Intel, as a company which espouses deep values as an organization, provides benefits that are both monetary and non-monetary. The approach of the company can be considered as a holistic one especially so that it addresses both the financial and non-financial needs of the employees. This leads to a more comprehensive compensation plan that provides a similar impact on motivation.

            The compensation for the employees is competitive such that it is above the average in the labor market and in comparison to similar jobs in other companies. It gives much appreciation for the labor provided by the employees and as more of their needs are satisfied according to the hierarchy of needs presented by Abraham Maslow, they are able to move to higher levels and they are able to aim for higher goals (Simons et al., 1987).

            Likewise, the employees at Intel do not consider the monetary value they receive as the compensation for the work they do as there are other non-monetary rewards that are made available to them (Anthony et al., 2006). These non-monetary rewards include stock purchases and options, leaves and medical benefits, and employee development and growth programs (Anthony et al., 2006). These benefits enhance the welfare of the employees by enabling them to participate in the organization and give them extended benefits that other employees may or may not enjoy. The availability of these benefits is targeted towards enabling the employees to do more in terms of work and personal growth. In this regard, the company is able to make itself visible both in the professional and personal growth of the employee, which is important in earning positive values towards the organization.

            Both the monetary and non-monetary benefits provided by the company plays an important role in enhancing the welfare of the employees and it is to be kept in mind that there are still improvements that can be made.

References

Anthony, W. P., Kacmar, K.M., and Perrewe, P.L. (2006). Human resources: A strategic approach. Fort Worth, Tex.: The Dryden Press.

Simons, J.A., Irwin, D.B., and Drinnien, B.A. (1987). Psychology – The search for understanding. New York: West Publishing Company.