The Importance of Compensation

Experience with Compensation

I had been working for a company for a few years and my effort in completing my duties was slowly decreasing by the workday. This was mainly due to my considerations of leaving the company because I had noticed other jobs would provide me with higher pay. Overall, I felt like my motivation was low on the job because of the lack of extrinsic rewards being provided by the employer. However, I was later provided with a monetary reward of a pay increase which influenced me to stay with the company. I think why this motivated me to stay with them is because pay is a crucial component of engagement because it isn’t just a number; it’s an emotional measure reflecting how valued I am by my employer. Therefore, the pay increase made me feel like the company actually valued me, and wanted and required my assistance. As mentioned in the article “Most People Have No Idea Whether They’re Paid Fairly”, the primary reason for employment is getting paid. This is something I relate to as well, my primary reason for working for this company is the money I receive. Thus, the pay increase I received from my employer is what ultimately provided me with what I needed to stay with the company. The extrinsic reward of a pay increase, also led to the employer delivering an intrinsic reward for me as well. This is due to me being provided with more self-worth and feeling as if the company actually desires my knowledge, skills, and experience enough to increase my pay and keep me working for their company.