Pay structures and the impact of these structures on employee motivation, engagement, and retention

In response to your classmates, contrast and compare pay structures and the impact of these structures on employee motivation, engagement, and retention. What insights have you gained from this analysis? Provide supportive workplace examples and cited information from your research and module resources.

I would determine how to compare my organization with companies who are doing the same thing. I would compare the company to companies who sell alike or similar products and services. For example, Lowe’s & Home Depot , Target & Walmart , each of these companies are different but they all sell similar products and sometimes employee pay is very similar. Where I live both Walmart and Target pay $15 per hour.

From an internal perspective there are many consequences to providing employee with a low or poor pay structure. First, there is low job satisfaction. This can cause employees to feel both underappreciated and undervalued. Low job satisfaction can also lead to disagreement between co-workers and this could also cause a staggering blow to the workplace morale. (Dirks, Eric, 2020) Another consequence of poor pay structure is low productivity. Employees are less enthusiastic about their getting their work done. Employees are also less likely to put there best foot forward. Another consequence is high turnover. Employees may begin looking for employment elsewhere especially if they feel they are being paid less than they deserve and their hard work isn’t being  acknowledged.

I would recommend companies increase salaries annually that are at least 10% more than their competitors, for example, if Sally  Shoes are paying $14.50 per hour for sales associates. Then, Jack Smith Shoes should pay $15.25 per hour for sales associates. Better pay does make a difference. I would also offer quarterly  bonuses to both full time and part time employees, as well the opportunity for employees to earn 21 PTO hours per month. Another incentive I would offer is employee of the month recognition, recognizing the employee who has perfect attendance, great customer satisfaction and does there job to the best of their ability. The employee of the month recipient will also recieve a $150 paycheck bonus. All of these incentives should boost motivation, engagement , and retention, as well productivity. I’m sure employees will work to be a recipient of the monthly bonus. I definitely believe we will have a competitive advantage because not many companies are offering paycheck bonuses for their  employee of the month recipients.