Solution

Benefits vs Rewards

The worker may receive non-salary remuneration known as rewards under legal conditions and employer-initiated choices according to Cotton (2022). Medical support and retirement benefits as well as paid maternity and paternity leave are common components among reward packages provided to workers. The value of compensation for rewards directly relates to either the worker’s performance achievements or their accomplishments. Wages along with commissions and performance-based bonuses represent common methods that organisations use to enhance worker performance (van Vulpen, 2019). The main distinction between benefits and rewards exists in the fact that performance standards do not determine benefits but rewards combine motivation with financial compensation based on individual achievement.

Profit sharing

Profit sharing presents an effective solution for Eco-Insulate’s organisational structure. Organisational goals will receive greater commitment from staff members if they participate in profit distribution when Eco-Insulate achieves profitable results. Profit sharing exists because employee compensation directly relates to the entire business performance results. Since the staff members receive part of the profits they possess a stake in the company’s success and become more motivated. The production level will rise because employees will be motivated through this measure to boost company revenue.

Company cars

Eco-Insulate could obtain various important advantages by offering company vehicles to work performers. The provision of vehicles

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