Journal 3 Essay Example | Topics and Well Written Essays - 250 words - 7

Journal 3 - Essay Example The application of this policy helps to motivate employees to attain higher goals (Blazey, 2013). Effective retention strategy is also part of compensation policy in organization. This strategy helps employees to remain committed on the organization to build successful career. Benefits policy can also help organization to attract best employees for the organization. Some of the necessary benefits plans of organization are to focus on employee needs, increase employee satisfaction and motivate existing employees by keeping them healthy (Henderson, 2002). Some of the benefits provided by organization are retirement benefit, insurance policy, sick leave, income protection on disability, vacation leave and substitute work engagements. The application of compensation and benefits can help organization to increase revenue which can lead to effective customer service interaction and high productivity. The successful compensation and benefit plan can help to attract competent employees and maintain sustainability in the competitive