HROB 2100 Lecture Notes - Lecture 11: Prevailing Wage, Job Performance, Wu Xing

• School: University of Guelph
• Department: Human Resources and Organizational Behaviour
• Course: HROB 2100
• Professor: Rhonda Gordon

Document Summary

Strategic importance of total rewards: monetary (extrinsic) compensation: cash payments and benefits non-monetary (intrinsic) personal growth and interpersonal rewards total awards approach rewards are part of integrated whole aligns rewards with business strategies. Five components of total rewards: compensation, benefits, work-life programs, performance and recognition, development and career opportunities. Basic considerations in determining pay rates legal considerations in compensation: employment/labour standards act, pay equity acts, human rights acts, canada/quebec pension plan, other legislation (worker"s comp. , ei) union influences compensation policies equity and its impact on pay rates. A systematic comparison to determine relative worth of jobs within a firm. Lecture 11: hr chapter 11 critical to operations or commonly found in other organizations. Compensable factors fundamental, compensable element of a job. Classification/grading method categorizes jobs into groups grade/group description: outlines level of compensable factors required by each job. Point method identify compensable factors determine the degree to which each factor is present in each job.