MANA 362 Chapter Notes - Fall 2017 Chapter 8 - Market basket, Canada Pension Plan, Job evaluation

• School: Concordia University
• Department: Management
• Course: MANA 362
• Professor: Nora Boranian

Document Summary

While the focus on this chapter is on pay and bene ts, it is important to state that many organizations think about and create reward strategies. The trust of this approach is to develop an organizational mindset to recognize and reward people with links to business strategy. Direct and indirect compensation are collectively referred to as total compensation or total rewards. Important that the total rewards system be transparent to all employees. Companies structure their rewards in ways that enhance employee motivation and growth while aligning the employees" e orts with the objectives, philosophies and culture of the organization. Looking at rewards in a strategic fashion serves to mesh the overall rewards for employees with speci c business objectives. This can help the organization to remain competitive. Employers have adopted special reward strategies to attract job applicants with highly marketable skills, such as high-tech workers, engineers and scientists with nancial knowledge and good people skills.