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HR FUNCTIONS: Maintaining a
Quality Workforce
Created @February 12, 2023 9:13 PM

Type

Materials

Reviewed

Goal den ng HR na mag stay ang mga empleyado

benefits (13th month pay)

incentives

How is a quality workforce maintained?

1. Total Rewards -it is equal to global reward defined as a totality of direct and indirect
rewards, social rights, and benefits provided to an employee for its work in the
organization
e.g.

basic salary (sweldo)

contingent compensation (extra pay based on your performance), competencies

and significant contribution

variable payment (bonus)*

*bonuses- according to law/contract you will only receive your bonuses according to
the situation of the company as a whole

opportunity to buy company’s stock and other cash benefits

HR FUNCTIONS: Maintaining a Quality Workforce 1

 2. Organizational Reward- form of pay given to workers as a result of their
employment status

Base Pay- based on the role in the organization and for the expertise required to
conduct that role

Variable Pay- based on the performance of the person in that role

it influences employees living standard, status in the society, productivity, and lastly
employee work and organizational satisfaction

Less remunerated and compensated employees are less satisfied than those who
are highly compensated

A professionally designed compensation and reward system can enhance

satisfaction, and attract and retain talented employees (bat pa ako lilipat kung yung
compensations and rewards ay andito sa kumpanya)

WAGE VS. SALARY

Wage - hourly basis
Salary- fixed amount of compensation (monthly)

TIP : salary or benefit?

Employee Benefits

Benefits are broadly defined as non-wage compensation OUTSIDE of a base-level

pay and performance-linked rewards (Australian Bureau of Statistics; Bureau of
Labor Statistics, 2015)

dati hindi tinataxan ang compensation/benefits, now meron na yung iba

NON-FINANCIAL BENEFITS: health and well being plans, career dev’t initiatives,
paid leave for training, life insurance, retirement plans, maternity leave, employee
stock ownership plans → bawal iconvert into cash

FINANCIAL BENEFITS: indirect compensation such as pension contribution (SSS,

pagibig, GSIS) → can convert to cash pero matagal unless iwithdraw mo siya ng

HR FUNCTIONS: Maintaining a Quality Workforce 2

 mas maaga

mas importante ang benefits (additional pa) kumpara sa compensation

(salary/wage) sabi ni (Jones ,2005) = probably bc of its inclusions

Tangible and Intangible

Employee benefit plans differ between jurisdictions; depending upon statutory

requirements for employers to provide retirement plans or insurance

types of benefits also vary BY INDUSTRY and organization and are influenced
by labor market conditions

Hanap ng company na maraming leaves binibigay, dont settle for less

HR FUNCTIONS: Maintaining a Quality Workforce 3