Compensation – Are you satisfied?
Compensation. One of the most delicate topics in human resources. The question you should ask yourself. Are you satisfied? Compensation takes many forms. Certain organizations offer over-the-industry average salaries in combination with acceptable perks and benefits. While others offer a lower salary and offer amazing benefits such as enhanced dental and medical care, company perks, and incentives. Again, you ask, am i satisfied with my compensation?
According to statistical results and surveys done by countless researchers, there is a point where money alone reaches its magic limit. This limit is 75k (Princeton study, based on average cost of living). Meaning after this point, monetary reward no longer provides value with regard to compensation (based on personal circumstances). If you’re working sixty hours a week and you’re earning (for the sake of argument) 120k, it’s possible that you will accept a lower salary in return for better work-life balance. While for others, this may not be a problem due to their fundamental goals, values, and career orientation.
To reflect, are you satisfied with your compensation? Realistically, this requires you to dig deep throughout your experiences and current situation. We can determine this by your tasks and responsibilities, hours spent at the office, and overall satisfaction with your current role. You will also have to reflect on your personal goals and aspirations. Review the organization you are currently a part of, is this the type of direction and purpose you want to live out? Answering these questions can give you insight to your own self and allow you to be true with your overall efforts and goals. Salary may be one of the main attractors when taking on a new role, however it doesn’t remain as a top factor to remain engaged and productive within the organization.
Be Present | Have Purpose.