7. The better the Compensation and Benefits plan, the better will be the efficiency of the employees. Workers are driven by the factors that make them feel happy about everything while adhering to the organization.
It simply is the monetary value you would give to your four employees in return of their services. In the book Human Resource Management, Gary Dessler defines compensation in these words "Employee compensation refers to all forms of pay going to employees and arising from their employment."
A competitive employee compensation and benefits package could include stock options or stock grants that serve as a long-term incentive. An employee stock option is when a company allows its employees to purchase a certain number of shares in its stock at a pre-set, usually reduced price over a certain period of time.