Inadequate Compensation Essay Example for Free

Inadequate Compensation EssayCompensation for most positions is far below the market average for our region, no annual increases in the nett 4 years. Salary.coms survey results presentation that inadequate compensation is by far the number one reason that dissatisfied employees want to depart from their logical argument. It has been proven quantify and again that fair pay practices benefit not only the employee, but also the employer (by reducing unwanted and unanticipated turnover cost). Employees who argon paid competitively, proportional to their specific market, are generally much happier. One way to find out if you are being paid what you are worth is to use Salary.coms net income negotiation tool, the Personal Salary Report. The Personal Salary Report will help you determine your value based on seam title, industry, geography, com junky size, education, experience, and another(prenominal) personal fixingss. 2 Inadequate Opportunities for Career AdvancementPercent Responding 37.3%My boss has dangled the carrot for a year.Opportunity for career advancement is a major factor in retaining employees and keeping them happy. 37.3% of dissatisfied employees cited inadequate opportunities for career advancement as the reason they want to quit. Empty promises by upper management, such as promotions that dont pan out, have led many employees to give up on moving up the corporate ladder at their particular company. 3 Insufficient knowledge or AppreciationPercent Responding 34.2%There is no recognition of my creative talent, training, or skills. The three major portions of an employees total rewards package are compensation, benefits, and the feed experience. The work experience includes things like company culture, dress code, and how employees are recognized and appreciated for individual contributions and accomplishments. The fact that 34.2% of dissatisfied employees are disgruntled because of insufficient recognition or appreciation shows the impo rtance of elements of the work experience, such as employee recognition programs. This proves that rewarding communicate performers with cash or gift certificates, or even just a pat on the back, goes a long way toward improving employee retention rates. 4 BoredomPercent Responding 20.1%My strain duties have gone from being repugn to boring. 20.1% of dissatisfied employees are unhappy because of boredom. There is only so much socializing with coworkers, surfing the Internet, or simply spacing out that an employee can do before its time to find a new job. The July 2005 AOL/Salary.com study on Wasted Time At Work revealed that the average American worker admitted to frittering outside(a) 2.09 hours per 8-hour workday, not including lunch and scheduled break-time. However, employees expressed that they are not always to blame for this wasted time. 33.2% of respondents cited lack of work as their biggest reason for wasting time. 5 Inadequate BenefitsPercent Responding 16.9%The insur ance premiums I pay cut deep into my paycheck.Results recently released from Salary.coms 2005 Small Business Basic Medical Coverage Survey show that nearly 90% of small businesses are paying much this year than last year for basic medical insurance for their employees. And these soaring healthcare costs are forcing small businesses, in many instances, to adopt measures that lower employee take-home pay. This has spurred some employees to start looking for work elsewhere, perhaps at companies offering more generous employer contributions towards the cost of basic medical coverage. Use the Benefits Tab of the Salary Wizard Calculator to see how your benefits stack up. 6 Inadequate Opportunities for Professional phylogenesisPercent Responding 15.3%Im probably too experienced and educated for this organization. 15.3% of dissatisfied employees feel as if they have reached the pinnacle of their master copy development at the company at which they are currently employed. Whether they ar e leaving to further their education, start their own business, or find a job that promises more professional growth, opportunity for professional development proves to be an important factor in retaining and satisfying employees.7 Insufficient Job SecurityPercent Responding 11.8%My job is being outsourced to Mexico and Asia.Insufficient job security is a result of a variety of different factors, including outsourcing, industry decline, lack of profits, competitive threats, and rumors that the company may be sold. The survey results indicated that many employees are searching for new jobs in response to the fact, or rumor, that their company or job is going under. Many of the 11.8% of respondents who cited insufficient job security as their top reason for leaving lack confidence in upper managements ability to save the company.8 Undesirable Impact on Health or essay LevelPercent Responding 10.5%This is bad for my health- my knees are hurting due to 12 hour shifts. Many employees ar e working long, hard hours and are finally realizing the solution that their job is having on their overall health and stress level. Some of these employees are opting to leave the workforce entirely, while others are in search of a job that wont give them an ulcer. 9 Poor Relations with ManagementPercent Responding 10%Management is incompetent, clueless, overcompensated, abusive, hostile and predatory. Bosses everywhere, beware Your employees are watching you and may leave because of your behavior. Even though poor relations with management ranked as the ninth most common reason unhappy employees want to leave their job, employees who abhor their boss provided us with some particularly entertaining feedback Upper management has no spine, they are jellyfish.My boss has a diagnosed mental condition, but doesnt take his medication. My employer wants to disuse regulations and laws in order to meet company goals. My direct employer is sexist, tyrannical, and engages in extreme favori tism, cronyism, and nepotism. 10 Undesirable CommutePercent Responding 9%My cost of gas versus my periodical income equals my net pay.Rising gas prices have become an effective pay cut for Americas commuters, and many are starting to think about leaving their job for something closer to home. Assuming that individual and company goals are met, employees can expect a salary increase of about 3.7% this year. They can also expect to rain cats and dogs 3.3% of their salary down the gas tank, virtually wiping out that increase. In fact, while salaries are rising 3.7% year over year, commuting costs have arise 50% in the last year.