Smart goal-oriented employees keep in mind the fact that maintaining quality employees is influenced by benefits and compensation packages. Bonuses and other benefits make employment contracts more attractive. By offering the right remuneration package gives a company the advantage of attracting top talent into their fold. Offering employees proper bonuses and salaries increase motivation by convincing the employees that employer has value for them as human beings. The bank is conversant with the fact that a feeling of being valued encourages better working by employees since have a motivation to deliver grander results.
Proper remuneration builds employee loyalty. The People United Bank realizes that making an employee happy at the workplace will maintain him at work saving on costs, energy and time that would be incurred hiring and training new employees. Gaining loyalty translates into increased productivity since they are comfortable increasing efficiency. Increasing productivity is also a product of job satisfaction which is a huge motivator for company success.
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The IT Project Manager at People United Bank forms an important link between the bank and app development company that develops technology for the bank. Increasing IT project manager’s salaries by thirty-five per cent compensations and ten per cent bonuses will motivate him to perform better with an increase in salary totalling one hundred and eighty thousand dollars.
Being the team leader, the Project Manager is the heart of the bank’s operations keeping the team right on its track to lead the company to success. Given his crucial role in the bank, an increasing salary from compensation and bonuses resulting to one hundred and fifty-seven thousand dollars will act as an integral driver for the Project Manager to undertake his duties.
A Financial Analyst’s salary at Peoples United Bank earns between eighty-six thousand, eight hundred and ninety-three dollars with top earners receiving a perk of one hundred and ten thousand five hundred and forty-seven dollars. Offering ten per cent of the salary in bonuses and an additional thirty-five per cent in compensations will boost the Analyst’s morale to maintain focus at work. Analyzing data for a bank can be a tedious task especially when the information is integral in deciding plans for the future. Therefore, an additional one hundred and twenty-six thousand dollars in compensation will motivate the Financial Analyst to perform his duties diligently.
