WDW101Y1 Study Guide - Final Guide: Expectancy Theory, Victor Vroom, Frederick Herzberg
25 Mar 2016
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5 mc, 4-5 short answers (10 marks), graph. -over supply, not for profit, standard are less. How to be a manager? is it requirement to give a higher wage every year based on the inflation? cost- benefit analysis. -value-added compensation: how does the compensation package benefit the organization? if it does not add value, change it. - pay mix or wage mix refers to the combination of base wage. Thy pay mis is ogen unique to certain job families as the pay mix can be designed to encourage specific behaviors and attitudes. This is tied closely to the concept of strategic compensation. Frederick herzberg maintains that wages are not a motivator, but inadequate wage will de- motivate. Equity theory is the notion that employees examine their relationship between their inputs to their jobs and their outcomes from their jobs and compare this ration of inputs and outputs to other people both inside and outside.
