In organizations, workers are significant resources through which all aims and objectives are achieved. Employees will demonstrate a pleasurable positive attitude when they are compensated well and receive monetary and non-monetary benefits from their organizations. With the covid-19 crisis, such advantages and compensation, workers will increase the productivity of an organization, which will, in turn, raise the overall performance of the firm. Salary and benefits received by workers during this coronavirus crisis will not only increase a firm’s productivity but also improve the social well-being of the US residents.
Materials and Methods
The study employed a quantitative research method to investigate how covid-19 will impact the compensation and benefits of employees in the year 2020. An explanatory hypothesis generated approach was employed, and survey design was applied when collecting data using semi-structured questionnaires. A sample of 280 academic staff, which was the total population of individual participants were selected to carry out the study. The participants were to visit several numbers of organizations in the US and interview employees on the covid-19 impacts on compensation and benefits.
Results and Discussion
Positive and significant impacts of compensation and benefits were realized as results of more than 90% of all examined employees during the coronavirus crisis in the US. Salary and interests among the workers created job satisfaction, which eventually increased the productivity of the firms. Most of the compensated employees claimed that such programs raised their life standard and helped them sustain the lives of their families during the epidemic. Both are useful instruments in the hands of the management and contribute effectiveness and impact positively to the behavior and productivity of employees.
However, benefits and compensation determine the retention and attraction of workers for the attainment of the organization’s objectives. The study showed that most of the employees were attracted by organizations that offer such compensations and benefits, whether monetary or non-monetary. They both attract and retain talented workers, which in turn improve the firm’s performance and competition. Therefore, with the current covid-19 pandemic in the United States, the study’s results indicated that there is a positive correlation between compensation and benefits and the firm’s productivity.
Conclusion and Recommendation
Protection of public health and the US economy during the covid-19 pandemic demands social distancing. To make the collective response possible, the majority of people must continue to work, often outside the home. The organizations and the entire US nation has a responsibility of protecting the employee’s health, create financial security for their families, to provide peace of mind during this time of heightened emotional and physical stress. Therefore, the study raised some recommendations that would continue encouraging the employees and their families during the covid-19 pandemic. First, free life and health insurance to the employees who leave their home grounds to continue working will be an honorable and affordable policy. Secondly, every Medicare beneficiary of these insurances receives full coverage for all covid-19 testing, hospitalizations, future vaccines, with supplementary plans that would cover all other costs that would be incurred. In conclusion, there is a positive correlation between compensation and benefits and the firm’s performance.
