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Remuneration and Employee Benefits in Organizations in the Czech Republic

Author

Listed:
  • Hana Urbancová

    (Department of Human Resources, University of Economics and Management, Nárožní 2600/9a, 158 00 Prague 5, Czech Republic)

  • Markéta Šnýdrová

    (Department of Human Resources, University of Economics and Management, Nárožní 2600/9a, 158 00 Prague 5, Czech Republic)

Abstract

In today's highly competitive environment, the goal of organizations is to recruit, retain and sufficiently stimulate employees to give high quality performance, which may actually be achieved by a well-developed system of remuneration and a wide range of suitably selected employee benefits. The article aims to identify and evaluate important factors influencing the area of employee remuneration and benefits offered in organizations in the Czech Republic. The research was carried out through a questionnaire survey that involved selected organizations in the Czech Republic (n = 402). The obtained primary data were processed using descriptive and multidimensional statistics. The factors examined in relation to the employee remuneration and benefits include: industries and sectors of organizations; markets in which they operate; the size of organizations by the headcount; the existence or absence of the Human Resource Department. The results confirm that the organizations that want to maintain a good position in the labour market pay attention to their personnel marketing, which is also helped by the right (suitable) system of employee remuneration and fringe benefits thanks to which they retain their employees and can increase employee satisfaction and loyalty. Employee benefits are exactly what may distinguish the organizations from their competitors in the labour market.

Suggested Citation

  • Hana Urbancová & Markéta Šnýdrová, 2017. "Remuneration and Employee Benefits in Organizations in the Czech Republic," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 65(1), pages 357-368.
    • Handle: RePEc:mup:actaun:actaun_2017065010357
    DOI: 10.11118/actaun201765010357
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    References listed on IDEAS

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    1. Brikend AZIRI, 2011. "Job Satisfaction, A Literature Review," Management Research and Practice, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 3(4), pages 77-86, December.
    2. Jasmijn C. Bol & Gary Hecht & Steven D. Smith, 2015. "Managers' Discretionary Adjustments: The Influence of Uncontrollable Events and Compensation Interdependence," Contemporary Accounting Research, John Wiley & Sons, vol. 32(1), pages 139-159, March.
    3. Sun, Lei & Widdicks, Martin, 2016. "Why do employees like to be paid with Options?: A multi-period prospect theory approach," Journal of Corporate Finance, Elsevier, vol. 38(C), pages 106-125.
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