ADMN 2230H Chapter Notes - Chapter 9: Canada Labour Code, Market Basket, Collective Bargaining
24 Mar 2017
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7 goals of strategic compensation policies remain competitive in labor market: reward employee performance, maintain salary equity, mesh employees future performance with organization goals, control the compensation budget, attract new employees, reduce unnecessary turnover. Pay equity: employees perception that the amount they are paid is equal to the value of the work done (equal pay for equal work, ex. Individual is paid minimum wage for working @ mcd"s, other is paid double for managing it because its double work. Expectancy theory: theory of motivation that says that 1"s level of motivation depends on the attractiveness of the reward and the probability of obtaining the reward, ex. Employee works harder b. c they believe it will result in. Christmas bonus which they need: 3 conditions for a reward to be motivational, valence (valued by employees, instrumentality (employees believe meeting goals will result in the promised reward, expectancy (employees believe the goal is attainable)
