MHR 749 Lecture Notes - Lecture 3: Workflow, Living Wage, Human Capital

• School: Ryerson University
• Department: Human Resources
• Course: MHR 749
• Professor: Margaret Yap

Document Summary

Co(cid:373)(cid:373)o(cid:374) (cid:271)ases for today"s pay stru(cid:272)ture: (1) the content of the work (2) the skills and knowledge required to perform it (cid:894)3(cid:895) its (cid:396)elati(cid:448)e (cid:448)alue fo(cid:396) a(cid:272)hie(cid:448)i(cid:374)g the o(cid:396)ga(cid:374)izatio(cid:374)"s o(cid:271)je(cid:272)ti(cid:448)es. Internal alignment (internal equity): refers to the pay relationships among different jobs/skills/competencies within a single organization; within the context of one specific companies and its jobs (i. e. not between an industry, but rather inside the one specific organization) Company has goals, objectives, plans, etc. , and the internal structure will allow it to flow effectively. Workflow: the process by which goods and services are delivered to the customer: motivates behaviour. Differentials: differentials: pay differences between job levels, pay structure is hierarchical in nature. Level 3: performed in unpleasant work conditions, or, work that adds more value to the company. Percent differentials can be paired with different pay level policies. Economic pressures: marginal productivity says that employees pay use value.