Employee Retention: Competitive remuneration packages help in reducing employee turnover. Motivation: Adequate and fair remuneration motivates employees to perform better and take on additional responsibilities. Attracting Talent: Attractive remuneration packages help in recruiting top talent from the market. Employee Satisfaction: Fair remuneration contributes to overall employee satisfaction and well-being. Productivity: Higher remuneration can lead to increased productivity as employees feel valued and rewarded for their efforts.