HRM 3490 Lecture Notes - Lecture 2: Organizational Identification, Equity Theory, Piece Work

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Fit concept and why compensation success in one firm can fail in another. An organization"s mission, vision and values guide managerial and compensation strategies. Fit refers to the alignment between the firm"s overall strategy and strategies at other levels. Vertical fit is the alignment between the overall strategic thrust and the supporting strategies, including hr and compensation. Horizontal fit refers to the integration or alignment at the same level; for example, between. Main elements in strategic compensation framework and how relate to one another. Managerial strategy one of three main patterns or combinations of structural variables that can be adopted by an organization, namely classical, human relations, or high involvement. Classical: the classical approach to management assumes that people are lazy, dislike work, and need to be motivated to work by financial rewards or the threat of removal of these rewards. Jobs are narrowly designed, and employees closely supervised. The nature of job is simple and require low training cost.

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