How to Structure Appropriate Compensations and Rewards

Singapore Airlines A380
Creative Commons License photo credit: Simon_sees

What are you rewarding? Attendance, skills, performance, productivity or longevity. Skill-based pay systems rewards employees to increase their depth of knowledge and skills related to their employer’s particular operations. Skill or knowledge-based pay systems are associated with lower rates of employee turnover.

The Queensland Department of Main Roads offers a variety of Incentives and Benefits in their compensation and rewards including: defined career development path; scope for further education and flexible working hours. Employees who accept remote jobs get lots of other benefits including subsidised housing and energy, travels benefits and salary loading. Many Mining Companies are now offering packages with Fly-In-Fly-Out (FIFO). Work in the mines, live on the coast.

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