Employee hiring and retention are two utmost important tasks of Human Resource department of modern enterprises. Organisations spend a great deal of money studying the reasons of attrition. And many of them conclude that compensation is the biggest reason why an employee accepts a job offer. I too think that salary is the most important motivating factor for one to accept an offer.
Firstly, one needs to understand the motive why anyone looks for employment. It is obvious that one does a job to earn money, to support his family and so that he can lead a good life. With time, everyone's need changes and one top of this, inflation makes things increasingly unaffordable. An employee starts looking outside when he finds himself stretching to meet his family need. Second reason is that when an employee feels he is not paid enough he would start finding a new job. Infosys Technology's HR department's exit interview, when they try to find the reasons why an employee has left the job, data reveals that 80% of people leaving job has the salary as the first reason. This shows that compensation plays the biggest role in employee's decision of switching job or taking new offer.
However, there are many other important reasons why one selects a job such as work-life balance, the opportunity to rise in the organisation's hierarchy, work culture etc. Study by Bangalore human resource organisation revealed that 50% employees provide non-salary as one of the reasons for taking a new offer. From my personal experience, I have seen many of my colleagues taking a new offer in search of other better opportunity or to switch career.
Therefore, we can safely conclude that salary is not the only consideration while choosing new job but it is the topmost reason why one takes a new job offer.
Employee
hiring and retention are two utmost
important
tasks of Human Resource department of modern enterprises.
Organisations
spend a great deal of money studying the
reasons
of attrition. And
many
of them conclude that compensation is the biggest
reason
why an
employee
accepts a
job
offer
.
I too
think
that salary is the most
important
motivating factor for one to accept an offer.
Firstly
, one needs to understand the motive why anyone looks for employment. It is obvious that one does a
job
to earn money, to support his family and
so
that he can lead a
good
life. With time, everyone's need
changes
and one top of this, inflation
makes
things
increasingly
unaffordable. An
employee
starts
looking outside when he finds himself stretching to
meet
his family need. Second
reason
is that when an
employee
feels he is not paid
enough
he would
start
finding a
new
job
.
Infosys
Technology's HR department's exit interview, when they try to find the
reasons
why an
employee
has
left
the
job
, data reveals that 80% of
people
leaving
job
has the salary as the
first
reason
. This
shows
that compensation plays the biggest role in employee's decision of switching
job
or taking
new
offer.
However
, there are
many
other
important
reasons
why one selects a
job
such as work-life balance, the opportunity to rise in the
organisation
's hierarchy, work culture etc. Study by Bangalore human resource
organisation
revealed that 50%
employees
provide non-salary as one of the
reasons
for taking a
new
offer
. From my personal experience, I have
seen
many
of my colleagues taking a
new
offer
in search of other better opportunity or to switch career.
Therefore
, we can
safely
conclude that salary is not the
only
consideration while choosing
new
job
but
it is the topmost
reason
why one takes a
new
job
offer
.