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Biblical Lessons on Compensation Paper
Biblical Lessons on Compensation Essay
Compensation is a very relevant and important issue in the process of human resource management. Compensations plays an important role in moderating the relationship between employees and an organization. For organizations, compensation provides an important avenue through which the organization can realize its strategic objectives. Compensation achieves this effect by allowing the organization to attract and retain talent or suitably skilled individuals who are capable of delivering effectively and efficiently. It is for this reason that business organizations need to engage in astute compensation practices that are also competitive. There are various different approaches, concepts and interpretations of compensation. Some organizations pay based on time while others rely on productivity. Some organizations provide a high basic pay supplemented by incentive pay, others instead offer a low basic pay and peg benefits and incentives to performance. Each of these approaches helps to attain different outcomes. Usually, matters such as compensation tend to be highly separated from spiritualism, which is often viewed as a personal matter that has no place in professional determinations. What many organizations fail to realize, however, is that the Bible actually has a lot to offer on the issue of compensation. This expository essay demonstrates the lessons that are available in the scriptures for organizations regarding compensation policies.
Biblical Lessons on Compensation
Compensation policies and practices are pegged on a number of different factors. At the core of compensation is a notion of exchange, where the two parties involved are exchanging resources (Peacocke, 2001). Workers give their skills and time to the organization, which in turn, reciprocates through wages. One of the key aspects is that both the worker and the organization or employer need to agree on the value of the offerings, such as the skills or time. The two ..........GET A PLAGIARISM FREE COPY