THE ORGANIZATIONAL REWARD SYSTEM

Abstract

The research aims to study the characteristics of the compensation system of organizations in the United States and its applicability to Thailand. This is a qualitative study that involves reviewing documents and research related to the compensation system of organizations in the United States. The findings reveal that aspects of the U.S. compensation system can be applied to Thailand in two key areas: 1) Legally mandated benefits, which include personal benefits such as salaries, special compensation, annual bonuses, and social security. 2) Discretionary benefits, which encompass privileges and welfare benefits such as career advancement opportunities, job satisfaction, skill development, and workplace environment. These factors serve as work incentives and influence employee performance Additionally, it was observed that applying the U.S. compensation system to Thailand has led to redundancy, causing an imbalance between workload and compensation. For instance, the workload often exceeds the available workforce, and the structure and workforce framework do not support career growth. Further recommendations include: Adjusting the base salary for existing employees based on their performance. Enhancing benefits to align with economic conditions, cost of living, and consumer price indices. Restructuring salary scales based on job value, job responsibilities, required skills, and job complexity. Providing training and development programs that meet employee needs. Modifying the workforce structure to align with career progression principles and regulatory requirements. Recognizing and rewarding outstanding employees. Lastly, the compensation system in the U.S. differs significantly from that in Thailand, as it is more complex and comprehensive. However, the U.S. compensation system is highly effective in meeting employee needs.