ADMS 3490 Chapter Notes - Chapter 4: Canada Pension Plan, Deferred Income

• School: York University
• Department: Administrative Studies
• Course: ADMS 3490
• Professor: Parbudyal Singh

Document Summary

1)-base pay: the proportion of an individuals compensation that is. >when calculated on an hourly time period is called wage. >when pay is based on a weekly, monthly, or annual time period its (cid:1) (cid:1) (cid:1) based on a unit of time worked. (cid:1) (cid:1) called salary. (cid:1) (cid:1) (cid:1) Easy to price in terms of its value to the employer (cid:1) Relatively stable (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) Linked to variability in an employer"s ability to pay. Job definitions may vary from the market data. Systematic way to determine pay for new jobs. May be difficult to calibrate system to market. Not all employees may have desire or capability. Unions may resist because not based on seniority. Can reduce the need for other types of mechanisms for controlling. 2)-performance pay: any type of financial rewards provided only when (cid:1) certain specified performance results occur.