human Resource Management (part 3) - Business - Human Resources

4.5 OverviewBearing the above stated in mind, it is apparent that the literature on compensation not only highlights the extent to which its judicious use can constructively contribute to the maximisation of organisational efficiency but, significantly, the degree to which it can influence positive developments in organisational culture. Compensation leads to the maximisation of employee motivation levels and, accordingly, to the enhancement of both productivity and innovation. When compensation schemes are institutionalised they become an integral part of the organisations culture and accordingly, create a motivational, productive and committed organisational culture which, in turn, enhances efficiency. It is, thus, that within the matrix of HR tools, practices and strategies, compensation assumes a singular importance.5 ConclusionThe argument presented in the above and which was supported throughout with academic literature and empirical evidence on compensation and othe r HR practices, has established one incontrovertible fact: HR practices positively contribute to organisational efficiency and induce such transformations in organisational culture as which ensure the maintenance of efficiency and effectiveness through a motivated and committed workforce. Within the context of the stated, compensation is important but it cannot attain the desired-for changes alone. Instead, all of the mentioned practices, alongside compensation, are the predicators of the identified transformations and the determinants of organisational efficiency and effectiveness.

6 Bibliography

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