SOLUTION: UM Effect of Low Correlation Between Compensation and Corporate Performance Essay

Here is the final file 😊 The Impact of Low Correlation Between Compensation and Corporate PerformanceResources, especially financial ones, are valuable assets to any business. To maximize theusefulness of such an important resource, companies compensate employees based on what can beand should be produced to keep the business going. The problem, however, lies in how muchemployees can and will produce for a price. The minimum wage has been kept low becausecompensation is not directly proportional to the productivity levels of the employees. This meansthat if the employee is only capable of delivering mediocre output, no amount of increase in wageswill change the quality or the motivation to do so. And if money is not enough to boostproductivity, then what will?It is important to note that, at the base level, work brings money– that is why work andtrade exists. The compensation from doing work gives access to items needed to survive. Theseinclude food, clothing, and shelter. However, work also exists to fulfill the emotional needs ofpeople; attain prestige, belongingness, and fulfillment.The objective then is to boost productivity through other means along with compensation.Bonuses and other monetary compensation, if not backed by proper training and orientation of thecompany’s mission, do not allow for more than a few days worth of motivation. However, whencompensation is backed with passion and purpose, and a shared sense of responsibility towardsboosting motivation and productivity in the company.Leadership writer John C. Maxwell talks about loyalty in companies and how to make themost out of it in the quote:“The more you raise new leaders, the more you will change the lives of all membersof the team. As a result, people will follow you because of what you’ve done for them. Andas a bonus, some of those mentoring relationships are likely to last a lifetime. (p.17)”This mentality affects all key players. For the executives, the focus for improvingproductivity stems from the strategies implemented to coax better quality outputs. It i…

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