Communication Exercise: Benefits & Compensation

Today we’re going to work a little bit on our communication skills. As managers we have a pretty good understanding of the value of our total compensation package, meaning not only wages but benefits as well.

Unfortunately, most of our employees look only at their wages, or what they’re able to take home and spend. Many don’t realise that their benefits packages cost quite a bit of money as well.

Imagine now that you have an employee who has just entered your office to give notice that he will be leaving for another job. He truly believes he will be making more money, but upon further questioning you realise he will be making only a small percentage more when it comes to wages and he will be losing out on a large portion of his benefits.

What would you to do explain the overall value of the compensation package he is receiving from your organisation? Do you think your explanation would be enough to change his mind? What steps will you take to communicate how much the organisation appreciates his work?

These are two issues I have always dreaded: compensation and resignations. Putting the two together should give you a chance to look closely at each so that you’re prepared to address any situation that arises.

Thanks again,

Sean

Sean McPheat

Managing Director

http://www.mtdtraining.com

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Mark-WilliamsMark Williams

Mark Williams is a learning and development professional, using business psychology and multiple intelligences to create fascinating and quickly-identifiable learning initiatives in the real-world business setting. Mark’s role at MTD is to ensure that our training is leading edge, and works closely with our trainers to develop the best learning experiences for all people on learning programmes. Mark designs and delivers training programmes for businesses both small and large and strives to ensure that MTD’s clients are receiving the very best training, support and services that will really make a difference to their business.