MHR 749 Lecture Notes - Lecture 6: Job Analysis, Executive Compensation, Job Evaluation
12 Oct 2016
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Document Summary
50 mc, 11 short answers, black/blue ink, 10:30. Five perspectives of compensation: global view, society. Compensation: refers to all forms of financial returns and tangible services and benefits employees receive as part of an employment relationship. Only one of the factors affecting people"s decision about work. Demographic characteristics marital status, having children at home. Job characteristics industry, size of establishment, type of work. Men study engineering and other technology fields. Human capital, - work experience, education: stockholders. Belief of using stock (shares of company) to pay employees to create a sense of ownership. Executive compensation to link company performance to pay: managers. Use compensation to influence employee behaviors and to improve organizational performance. Willingness to be flexible or learn new skills. Forces managers to consider affordability of their compensation decisions: employees. Vital role in economic and social well being. Entitlement of being an employee of the company. Return on investments and contributions (time, education, training.
