- Right Rewards and Compensation needed to attract the right talents needed by the company to

achieve their goals

- Why to worry about Compensation and rewards?
1. They are good at what they do
2. The company needs the talent they have
3. The employee wants to be at the company
- # 3 is where companies fall by not realizing what employees need to stay at the job and thus the
company can miss out on the talent that could bolster their bottom line.
- Employers who worry about R&C will:
1. Attract the right talents
2. Employees who have several job offers will often choose the one that speaks to their
current needs and to their long-term goals.
3. Company who knows how to R&C will benefit from a higher number of people applying, and
maybe younger employees who will benefit from the R&C to extend in their career.
4. Keep talented employees on board.
5. Smart companies can use the R&C to reduce labor costs. (Reduce costs of training and
bringing the new employees to the level/skill/ or knowledge needed.)
6. Reduce health costs, by staying healthy. Less sick days and more productivity when at work.
7. Stay competitive in market and gain a better reputation and thus attract more people to
work for them.
8. The more the team will be able to secure results on long term. More revenue and more
positive outcomes
- If no good R&C:
1. More employees turnover
2. Less attraction for talented people to incline and apple to that company. Instead they will
search for more attractive offers.
3. They will not have long term plans with the company.
4. Increased sick days
5. Reduced competitive edge
- Companies who want to remain competitive will have to look at whether they make their
compensation and benefits packages a priority.
- A company without HR influence will often experience high turnover rates and higher costs in
long run.