Compensation of Private and Public Sectors Assignment Help Similarities and Differences in Compensation of Private and Public Sectors

The main similarity between compensation and benefit packages of private and public sector is the presence of both

direct and indirect compensation components. In both sectors, compensation and benefits are utilized for the purpose of employees’ motivation and achieving desired results. Additionally our business compensation case study assignment help experts says that, compensation programs of both private and public sectors are designed according to organizational policy, labor laws and social responsibility. But at the same time, in public sector, employees often enjoy benefits like retirement pension, house rent allowance and health insurance, but generally these are not available in private sector. Along with this, the private sector employees have the benefits like flexible work timing, work from home facility, higher cash rewards, profit sharing opportunity and growth opportunity, but public sector employees doesn’t have these types of benefits in their compensation package.

Considerations to Design Compensation and Benefits Packages There are several important considerations that can guide an organization to design a well-balanced compensation and benefits packages for its employees. The financial position of the organization, potential conflicts between different grades of employees and employee moral are some of the important considerations for an organization, when designing the compensation program for its employees. The cost of compensation and benefits is the main consideration for the organization due to increase in financial burden on business. Along with this, benefit adequacy, equity, balance, tax effectiveness and recognition of local customers and parties are some typical consideration that an organization should consider when making decision in the context of compensation strategy. All these considerations are helpful for the corporations to avoid any types of issues, to utilize tax deductibility advantage as well as to provide benefits within the limit that business can afford. Get business assignment help on any topic from our most experienced and professors of Australia, US and UK experts. You can e-mail us or call us any time for original assignment help.