Compensation

In this week’s blog, I will be discussing how compensation motivated me and motivates employees at my job. I work as an office assistant at one of the dining halls on campus and in order to get my job I had to apply for a promotion. There are 2 types of student workers at the dining hall, the student workers and the training assistants. After you have worked at the dining hall for a couple of terms, the student worker can apply to be a training assistant. The training assistants receive more responsibility and a pay raise. A big motivating factor for me to apply was the pay increase and this is also a big reason why most of the student workers apply. This position also requires more responsibility and in my case, I was able to get a position being the manager’s assistant which helped me get some kind of managing experience. As stated in this week’s lectures, compensation has two components, extrinsic and intrinsic rewards, and being promoted to this position gave me extrinsic rewards(Compensation outline). My new position gave me monetary compensation because of the pay and nonmonetary compensation because the experience will be learned. This position also challenged me by giving me more responsibility than I had before which made me motivate myself to achieve more. This can fall under the intrinsic rewards because the position did not directly challenge me. Compensation can help motivate employees and help keep the company’s employees work at one place longer because they are working to a higher goal.

Source:

Lectures 1-3, compensation outline.

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