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What is the importance of compensation and benefits for a company?

The compensation and benefits of a company are part of the strategies and procedures of Human Resources, this is because it is the area that is in charge of studying the techniques and principles to achieve the adequate and total compensation that a worker should receive. The compensation that is also called salary, salary or benefits, is the reward that a worker receives for his work, or a workplace injury management . It is the element that allows the organization to attract the employee by satisfying his needs. At present, this system has incorporated a series of incentives, in order to stimulate the workers of a company and establish a relationship between labor costs and productivity. This function was originated to improve the results in the company and in this way the productivity of the organization is not affected, work quality is not deteriorated, good performance is affected, complaints, absenteeism and desertion increase. The company must bear in mind that lack of