MHR 523 Lecture Notes - Lecture 8: Ultimatum Game, Job Satisfaction, Distributive Justice
22 Feb 2017
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Total employment rewards: an integrated package of all rewards (monetary and non- monetary, extrinsic and intrinsic) gained by employees arising from their employment. Work-life programs: things that promote work-life balance (i. e. on-site daycare, gym memberships) Performance and recognition: acknowledging employees for their work. Equity and its impact on pay rates. Steps in establishing pay rates: job evaluation: a systematic comparison to determine relative worth of jobs within a firm. Benchmark job: critical to operations or commonly found in other organizations. Compensable factors: fundamental, compensable elements of a job. Skill, mental effort, physical effort, responsibility, working: conduct a wage/salary survey conditions. Collect data on benefits, recognition programs, etc. Informal surveys good for easily recognized jobs: combine job evaluation and salary survey information. Wage curve: a graphic description of the relationship between the value of the job and the average paid for this job. Pay ranges: a series of steps or levels within a pay grade, usually based on years of service.
