MHR 523 Lecture Notes - Lecture 7: Prevailing Wage, Gender Pay Gap, Total Rewards
16 Mar 2016
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Chapter 11 & 12: strategic pay plans and p4p and financial incentives. An integrated package of all rewards by employees. To atract the best and the brightest (acquire) To ensure that my people feel fairly paid (equity - internal and external) Job evaluaion (internal equity: conduct wage/salary survey (external equity, combine job evaluaion and salary to determine pay. A systemaic comparison to determine relaive worth of jobs within a irm. All the jobs in the company should be evaluated by all of the worth of the jobs and rank them to know the relaive work of each job. Criical to operaions or commonly found in other organizaions. Things we are able to pay for compensaion. What under things in the big 4 to pay money for. Grade/ group descripion: outlines level of compensable factors required by each job. Determine the degree to which each factor is present in each job o.
