Hello there,

Welcome to another week of Productivity Wednesday. Last week we discussed Identification of Talent and Recruitment Process. This article will focus on Culture and Renumeration and by that, I mean the processes, policies and practices in place that are designed to create a culture that allows employees to be productive.

Culture is the most important aspect of any business. It needs to be developed in an organization to achieve maximum efficiency and effectiveness. The relationship between culture and remuneration is an interesting one because it can help organizations attract talent, retain it and motivate it.

 Culture has a direct impact on remuneration, which in turn affects behaviour. The two are closely linked, but they are not identical. Culture can be thought of as a set of shared values that guide how people do their job. Remuneration is how you reward those who go above and beyond to deliver the results that you need.  This equation can be used to help organizations understand how culture impacts remuneration, as well as how they might want to change their current culture to better align with their remuneration strategy.

 It’s important for leaders at all levels within an organization to understand this relationship between culture and remuneration because it will help them identify where there may be problems or issues with either one or both parts of this equation.

 The remuneration policies of an organization will reflect its culture, and this may lead to inequitable treatment of employees about pay and benefits. For example, if a company has a strong emphasis on employee engagement, then it may compensate its employees based on performance indicators such as customer satisfaction or revenues instead of base salary as is common in other organizations. This will result in less equity amongst employees about pay and benefits as each employee’s contribution to the business will be different based on their level of engagement.

How do we manage our culture and remuneration?

1. Acknowledge the problem.

 The first step is to acknowledge that there is a problem, whether it’s in your company or at an individual level. This can be done by talking to people who are affected by the culture, or by having an internal discussion on how to change it.

 2. Listen and learn from others’ experiences.

 Once you have acknowledged the problem, listen to what others have experienced and learn from their experiences. This will help you understand the root cause of this issue and make sure you don’t repeat them yourself in the future.

 3. Create a plan for change.

 Once you have acknowledged the problem and learned from others’ experiences, create a plan for change that will address all aspects of your culture and remuneration system: hiring practices, performance management systems, compensation structures, and so on.

What are the consequences of a good or bad culture?

 The culture of an organization has a dramatic effect on the way that it does business. Good culture helps to create a positive environment where employees feel valued and respected, where they are motivated to perform at their best, and where they are willing to take risks and be innovative. In contrast, a bad culture can lead to disengagement, disorganization, high levels of stress, and turnover.

 A good culture is also essential for retention and employee engagement. This is because employees who work in an environment that promotes creativity, innovation, and collaboration tend to be happier than those who work in an environment that does not foster these traits. In addition, studies have shown that morale is directly related to productivity and profitability. If you want your employees to produce more results for your company, then you need to create an environment where they feel valued and appreciated.

 Conclusion

Remuneration plays a big part in corporate culture. It is the way an employee perceives his or her own value or worth as an employee. When people feel that their work is valued and rewarded with respect, they will also tend to perform better.

 A negative perception of remuneration can lead to low morale and lower productivity levels. When employees feel undervalued, they may become more likely to leave the organization for greener pastures elsewhere, which can be detrimental to the company’s business environment.

What 21 Search Offers

At 21 Search we are specialized in providing you with the best and most qualified professionals for your job openings. Our team is made of highly experienced recruiters who have been working in the recruitment industry for many years.

 We have a wide range of skills and experience that we can offer to our clients. Our staff consists of specialists who know how to attract top talent from all over the world.  Our goal is not only to find you potential candidates but also to provide them with the best possible training and development opportunities. Our team members are highly skilled professionals who can help you to achieve your goals as a business or as an individual.  Kindly send us an email at e.mbahon@21search.ng or call 081070172

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