HRM 3490 Lecture Notes - Lecture 1: Job Satisfaction

• School: York University
• Department: Human Resources Management
• Course: HRM 3490
• Professor: Parbudyal Singh

Document Summary

For employers, the purpose of pay is to achieve organizational goals i-e maximize the profit. If they consider the good compensation is an investment rather than a cost on the human resources budget, then in return they will accomplish the expected outcomes. Hiring and retaining the top talent is definitely a great challenge in the competitive market, but a good compensation strategy can help the employers keep their name in the list of most desirable employers in the industry. The companies like google, apple, cisco have set a trend to pay well to their employees in order to get good return on their investment. When the employers genuinely demonstrate that their employees are more valuable than the profit, they cultivate the right work behaviors. It is true that appreciation at work motivates more than money or other tangible rewards. Monterey incentives can satisfy the human nature only at a certain level, after that job satisfaction and recognition matters the most.