In modern times, to attract valuable employees, companies are developing various strategies and tactics. One of these strategies is to offer a compensation package of payments, which may include additional financial bonuses and benefits in addition to wages. In addition, medical insurance or pension payments are provided as compensation. In the video, Chris Cabrera (Selling Power, 2017) explains that compensation is one of the most necessary elements of working with employees. The video is informative because in it, the head of the company himself, from his point of view, demonstrates what exactly is considered compensation, what should be included in the compensation plan, and what is sometimes considered strange and not suitable as compensation.
In my work, managers often offered me certain compensations. I was offered medical insurance and pension payments, in addition, periodically, I received financial bonuses for hard work and over-fulfillment of plans. My colleagues also have the opportunity to receive compensation for success in their work, and this is a strong motivator for them and me. In addition to financial compensation, there are also compensations for paying for travel abroad or paying for employees’ studies by the company. This is also a strong motivator for work, as studying involves improving knowledge, qualifications, and efficiency. Paying for travel vouchers is undoubtedly also a good bonus that attracts employees and motivates them to increase their efficiency and the overall success of the enterprise. Naturally, many people come to sales to get high incomes, but still, not everyone succeeds because sales include many skills necessary for an employee that not everyone masters. Despite this, everyone is given the opportunity to acquire these skills and apply them in their work to be able to receive high profits and additional compensation in the future.
Reference
Selling Power. (2017). How to Improve Sales Compensation Plans [Video]. YouTube. Web.