Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
(HRM)
Manpower planning
Increasing output per person per unit of time
Personal management
Administrative support function
Human resource management
Quality HR systems design
1-1
The concept of
Compensation in modern
HRM
Compensation represents both the
intrinsic and extrinsic rewards
employees receive for performing
their job
Intrinsic
Extrinsic
1-2
Intrinsic Compensation
5CORE JOB DIMENSIONS
Skill Variety
Task Identity
Meaningfulness
Task Significance
Autonomy
Responsibility
Feedback Results
1-3
Core compensation
(Direct)
Fringe Compensation
(Indirect)
Extrinsic Compensation
1-4
Base Pay
Hourly Pay (Wages)
Annual Pay (Salary)
Extrinsic Compensation
ELEMENTS OF CORE COMPENSATION
1-5
An Employees Skill Level
An Employees Effort
An Employees Level of
Responsibility
4 COMPENSABLE FACTORS
1-6
Seniority Pay
Human capital theory
Merit pay
Based on performance / effort / result
Incentive pay
Attaining a predetermined objective
Pay for knowledge / Skill based pay
Range, depth, type of skill / knowledge
Pay Systems
1-7
Promote Worker Safety and Health
Maintain Family Income
Assist Families in Crisis
Provide Assistance in Case of
Disability
Unemployment
FRINGE COMPENSATION
Legally-required benefits
1-8
3 Broad Categories
STRATEGIC ACTIVITIES
1-
10
Competitive Strategy
Strategic Decisions
H R strategy
Compensation strategy
COMPETITIVE STRATEGY
1-
12
Lowest Cost: Focus is on Being
the Lowest Cost Producer of
Goods or Services
Differentiation: Focus is on
Offering Unique Goods or
Services
COMPETITIVE STRATEGY
CHOICES
1-
13
Effective When Jobs:
Include Predictable Behaviors
Have a Short-Term Focus
Require Autonomous Activity
Focus on Quantity of Output
DIFFERENTIATION STRATEGY
1-
15
Base Pay Seniority Pay
Incentive Pay Pay-for-
Knowledge
Two-tier Pay
Skill - Based
Broad banding Pay
Merit Pay
Relationship of Compensation
Management within HRM
1-
17
Internal Consistency
Market Competitiveness
Recognizing Individual
Contributions
COMPENSATION GOALS
1-
18
Achieved When the Value of Each Job
is Clearly Defined
Represents:
Job Structure
Hierarchy
Achieved Using:
Job Analysis
Job Evaluation
INTERNAL CONSISTENCY
1-
19
Represents a Companies
Compensation Policies that Fit with
its Business Objectives
Plays a Significant Role in Attracting
and Retaining Employees
Are Based on:
Strategic Analyses
Compensation Surveys
MARKET COMPETITIVENESS
1-
20
INDIVIDUAL
CONTRIBUTIONS
Pay Structures: Pay is Determined
by Employees Credentials, Job
Knowledge, and Job Performance
Pay Grades: Based on Compensable
Factors and Value
Pay Ranges: Builds on Grades,
Uses Midpoints, Minimums,
and Maximums
1-
21
STAKEHOLDERS
Are Individuals or Entities that are
Directly Affected by a Companys
Compensation Practices, Like
Employees
Line Managers
Executives
Unions
Government
1-
22