HRM200 Chapter Notes - Chapter 11: Job Performance, Job Evaluation, Subfactor

• School: University of Waterloo
• Department: Human Resources Management
• Course: HRM200
• Professor: William Peckham

Document Summary

Includes all forms of pay going to employees and arising from their employment. Compensation plans should first advance the firm"s strategic aims. Means creating a compensation package (including wages, incentives, and benefits) that produces the employee behaviours the firm needs to achieve its competitive strategy. Purpose of rewards are to attract, retain, motivate, and engage employees. Engagement refers to a positive emotional connection to the employer and a clear understanding of the strategic significance of the job, which results in discretionary effort on the part of the employee. Stage 3: combine job evaluation and salary survey to determine pay. A systematic comparison to determine relative worth of jobs within a firm. Critical to operations or commonly found in other organizations. Grade/group description: outlines level of compensable factors required by each job. Determine the degree to which each factor is present in each job. Step 3: assign points for each degree of each sub-factor.