ADM 3337 Lecture Notes - Lecture 1: Total Rewards, Human Capital, Job Analysis

• School: University of Ottawa
• Department: Administration
• Course: ADM 3337
• Professor: Katie Curran

Document Summary

Compensation: all forms of financial returns and tangible services and benefits that employees receive as part of an employment relationship. Society: perceives compensation as a measure of justice (distributive): i. e. , compensation gap between men and women; foreign labour. Stockholders: view executive pay as a special interest: pay for executives is supposed to be tied to the financial performance of the company- doesn"t always happen. Managers: view compensation as both an expense and influence on employee work behaviors. Employees: view compensation as a return for the work they perform. Globally: views of compensation differ around the world. Long-term incentives (stock options) short-term incentives (bonuses), merit/cola, base pay: relational returns (psychological elements that make work satisfying) Policies that form the foundation of the compensation system. Techniques that make up the compensation system. Strategic compensation objectives: shape the pay system and serve as standard for evaluating the pay system. Efficiency: improves performance, quality, delighting customers/stockholders, controlling labour costs.