MHR 523 Study Guide - Final Guide: Eastern Partnership, Piece Work, The Employer

• School: Ryerson University
• Department: Human Resources
• Course: MHR 523
• Professor: Kemi Salawu Anazodo

Document Summary

Fixed pay: compensation independent of performance level of an individual, group, or organization: includes base pay, allowances. Variable pay: any plan that ties pay to productivity or profitability: may be in addition to base pay. Skill based pay: compensate employees for the skills they bring to the job, based on their skills, compensable factors (physical effort, mental effort, skill, responsibility, working conditions, focused on manufacturing environments. Core competencies - knowledge and behaviours that all employees must exhibit. Functional competencies specific to a particular occupation/organizational function. Not something you can be taught, but are valuable: hard for an organization to see if the innovation of a employee was something that will continue to occur or was just a fluck. Market-based pay: pay based on external equity, to pay employees like other external people are being payed with comparable jobs as the employee, requires careful selection of wage/salary surveys.