HROB 3010 Chapter 2-7: Chapter Summaries 2-7
17 Oct 2015
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Business strategy and competitive dynamics understand the business: understand specific industry, how will it compete, it is important to learn the underlying dynamics in a business, the business strategy, to consider how the compensation system should change to support and be apart of the strategy, competitive dynamics can be looked at globally. Managers must be knowledgeable about the competitive conditions and pay practices globally and locally because of: different average length of the work week, different hourly labour costs and productivity, number of holidays, how pay is determined. General procedures for conventional job analysis: develop preliminary job information (page 60, conduct initial tour of work site, conduct interviews, conduct second tour of work site, consolidate job information, verify job description. The major job evaluations decisions are: establish the purpose, decide on single versus multiple plans, choose among alternative methods, obtain involvement of relevant stakeholders, evaluate the usefulness of the results.
