MHR 523 Chapter 11: Human Resources Management Chapter 11

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lilacmosquito575

14 Apr 2011

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Total rewards: an integrated package of all rewards (monetary and nonmonetary, extrinsic and intrinsic) gained by employees arising from their employment. The five components of total rewards: compensation e. g. wages, salaries, incentives, commissions, bonuses, benefits e. g. insurance, vacations, work/life programs e. g. childcare, performance and recognitione. g. pay-for-performance, development and career opportunities e. g. tuition assistance. Salary increases, promotion/demotion policies, over-time, probationary pay, jury duty, holidays. Job evaluation: a systematic comparison to determine the relative worth of jobs within a firm. Compensable factor: a fundamental, compensable element of a job, such as skill, effort, responsibility, and working conditions. Job evaluation committee established to ensure the representation of the points of view of various people who are familiar with the jobs in question, each of whom may have a different perspective regarding the nature of the jobs. Classification method: a method for categorizing jobs into groups.

Related Questions

Organizations use rewards to attract, retain, and motivate people. Larger companies such as Boeing, Microsoft, Aetna can afford to offer employees valuable rewards and incentives. Smaller companies find it very difficult to compete with those rewards programs. If you were a manager for a small company, name three (3) incentives or rewards you would offer your employees to foster loyalty and job satisfaction.

Which of the following is not a common reason why incentives may fail to motivate employees?

a) Sometimes there is too much emphasis on monetary rewards.

b) The incentive plan is based on clear and realistic goals.

c) Incentives may be extensive, but employees feel entitled to them as part of the job.

d) There may be too long a delay between performance and rewards.

e) One-shot rewards (such as half a day off) may have a short-lived motivational impact.

aquamarineotter427

1. Does the organization you work for have a policy about employees discussion their compensation? If so, what is it? If not, do employees generally share information formally or informally about their pay rate? (300 words or more)

2. What does the Total Rewards package at your organization consist of? Are employees generally happy with it? Why or why not? (300 words or more)

MHR 523 Chapter 11: Human Resources Management Chapter 11

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