COMMERCE 2BC3 Lecture Notes - Lecture 8: Motivation, Equal Pay For Equal Work, Encarta
18 Dec 2016
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Ch 13 not on exam, not cumulative (unit 6 11) This covers 3 chapters (span of 2 weeks) Ch10: employee benefits (not that important) -> 2-4 questions. Would you finish your program: yes, but try to invest money. Compensation: significant motive for seeking employment, we need a level of income, give shapes to type of employment you seek (i would look for jobs like x, not like y) Goals of compensation: attract: recruitment aspect, retain: once you have workforce in place, are employees willing to stay, motivate: Compensation costs are largest cost category in most firms: often 50-80% of total costs, varies by industry highest in service organizations hospitals, colleges/universities. All the things that employment relationship would provide. Direct: (cid:862)(cid:449)hat do (cid:455)ou get paid fo(cid:396) (cid:455)ou(cid:396) (cid:449)o(cid:396)k(cid:863: base pay: what is guaranteed to be paid in your pay check, performance based pay: normally be added to your pay check once you earn it.
