MHR 505 Lecture 2: MHR505 – Class 2
17 Oct 2017
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Document Summary
Different meanings of money: symbol of achievements/status; motivator; performance indicator; anxiety source/avoider. Strong money ethic when money is perceived as: not evil, achievement/power symbol, budget carefully. Gender differences more valued by men: men: money is a symbol of power/status, women: money is instrumental (exchanged) Cultural differences: money importance increases with power distance. Advantages: guaranteed wages may attract job applicants, seniority-based rewards reduce turnover. Disadvantages: don"t directly motivate job performance, discourages poor performers from leaving, potential golden handcuffs (tie people to job) Advantages: job evaluation tries to maintain fairness, motivates competition for promotions. Disadvantages: encourages bureaucratic hierarchy, reinforces status vs egalitarian culture, employees exaggerate duties, hoard resources. Organizational rewards: esops, share options, profit-sharing. Evaluation organizational rewards: esops and share options create ownership culture , profit sharing adjusts pay with firm"s prosperity, problem: organizational rewards have weak p-to-o link. Assigning tasks to a job including the interdependency of those tasks with other jobs.
