MHR 523 Chapter Notes - Chapter 11: Prevailing Wage, Job Evaluation, Gender Pay Gap
21 Apr 2016
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Document Summary
Total employment rewards: establishing pay rates, pay equity and organization justice. Compensation: benefits, work-life programs, performance and recognition, development and career opportunities. An integrated package of all rewards (monetary/non-monetary/extrinsic/intrinsic) gained by employees arising from their employment. An integrated package of all rewards (monetary/non-monetary/extrinsic/intrinsic) gained. Systematic comparison to determine worth of jobs within a firm. Union influences: equity and its impact on pay rates. Grade/group description -outlines level of compensable factors required by each job. Determine the degree to which each factor is presented in each job. Skill-based pay -pay increases with skill modules learned. Advantages -more flexible work force, better quality, consistent with employability. Disadvantages -potentially subjective and higher training costs. Difficult to measure economic impact to organization. Benchmark job-critical to operations or commonly found in other organizations. Grade/group description -outlines level of compensable factors required by each. Advantages -more flexible work force, better quality, consistent with. Compensable factors not easily measured: creativity and problem solving.
