Unit 9 Final

Goals in Compensation

Compensation relates to my career in BNSF railway because it is part of why I work there. The pay might not be where I like it, but other perks compensate. Examples are bonuses, benefits packages, railroad retirement (instead of social security), and tuition assistance.

BNSF wants to attract talented, motivated, and safety-conscious people. People look for ways to put themselves in the best financial position (Leonard, 2019). Compensation helps motivate employees, which helps in a though long hour days on the railroad and sometimes not home for days at a time. If BNSF adequately compensates its employees, it shows that they are valued workers and appreciated as human beings (Leonard, 2019). Company morale increases and people are more motivated to come to work and care about doing a good job.

Coming into this compensation course and just working on the first-week material has made me think about what BNSF offers its employees. Our craft in South Seattle has been upset with the new union contract, and employees are losing faith in the union and feeling under-appreciated by the railroad. My short-term goal is to keep learning about these business and HR aspects of the base foundation. I am a person that likes to learn and absorbs knowledge like a sponge.

The long-term goal is to have a better understanding of compensation and put this knowledge to use in my future career of HR. My goal is to become a valuable employee and contribute as much knowledge as a can to my employer. I don’t know yet if I will be able to stay within BNSF and transfer into the HR team or if I will find something better. This course is necessary for my tool bucket anywhere I go in life.

There are a lot of things I would like to learn this term. Such as what makes employees satisfied, how internal and external equity is maintained, and how control is maintained over compensation costs (Team, 2014). What kind of compensation attracts top talent? How do companies retain core employees and not have a high turn overrate, such as in my craft within BNSF? I would also like to learn about the job analysis process and what is involved in the compensation analysis.

I look forward to this semester. Thank you.

References

Leonard, K. (2019, March 01). Importance of Compensation in the Workplace. Retrieved August 04, 2020, from https://smallbusiness.chron.com/importance-compensation-workplace-38470.html

Team, H. (2014, March 19). Compensation 101-The Basics. Retrieved August 04, 2020, from https://hrdailyadvisor.blr.com/2014/03/19/compensation-101-the-basics/