Compensation is more than getting well paid

The students of Master of Science in International Business (MScIB) attended to Pablo Ozonas’ conference “Compensations and Benefits Overview”. Ozonas is the former Director of Compensation and Planification of Human Resources of Banc Sabadell and partner of ESPERTA, a company that works in organisational development for other companies.

Ozonas explained that the clue of compensation is knowing better the people we have to manage. The first thing to consider when we talk about compensation is to connect the person that is coming to our company with the position they will have to hold. After that, we have to think about a good economical reward to make the person feel fulfilled with its position.

But, as Ozonas said, “compensation is a lot more than getting well paid”. For this reason, it is also important to value a good relationship with your manager and your coworkers, especially the team you are going to work with, as well as the purpose and values that the company has. These are all the aspects that an employee has to value to consider if a job is worth it.

The expert mentioned that it is important to listen to your employees and explain what do you want from them. Although you do not have to do everything your employees are asking for, it is important to consider their opinions because being flexible could make them work better and more efficiently. Ozonas underlined that compensation is a tool, not an objective itself and told that autonomy, purpose and mastery are the keys to make people feel motivated and engaged with a project.

At the end of the conference, Ozonas said that even if all these considerations could sound quite obvious, most of the companies do not think in the whole terms of compensation, so he encouraged the students to find companies that motivate their employees not only by increasing their salaries.