ADMS 2600 Chapter Notes -Total Quality Management, Neuroticism, Absenteeism

• School: York University
• Department: Administrative Studies
• Course: ADMS 2600
• Professor: Monica Belcourt

Document Summary

Pay: statement of an employee"s worth by an employer; perception of worth by and employee. Direct compensation: wages/salaries, commissions, bonuses and incentives. Indirect compensation: employee recognition programs, rewarding jobs, organizational support, work environment, and flexible hours. Strategic compensation planning (scp): compensation of employees to enhance motivation and growth, while aligning efforts with the objectives, philosophies, and culture of the organization. Hr&scp: scp mesh monetary payments with specific hr functions. Aid/impair recruitment: recruitment: supply of applicants affects wage rate. Pay rates affect selectivity: selection: selection standards affect level of pay required. Pay can motivate training: training&development: increased knowledge leads to higher pay. T&d may lead to higher pay: compensation management: basis for determining employee"s pay rate. Low pay encourages unionization: labour relations: pay rates determined through negotiation. Organizations establish specific goals to join organizational objectives to the compensation program. (2) to remain competitive in the labour market. (3) to maintain salary equity among employees.