ADMS 3490 Lecture Notes - Lecture 4: Unemployment Benefits, Merit Pay, Profit Sharing

• School: York University
• Department: Administrative Studies
• Course: ADMS 3490
• Professor: Parbudyal Singh

Document Summary

How much you pay is important, but also how you pay is important. Unit 4 (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) Organization performance (profit sharing and stock options). (cid:1) (cid:1) Pension, insurance, pay for time note worked employee services. (cid:1) (cid:1) (cid:1) employer. It is the largest component of pay, especially to low level employees. (wages and salary) Guarantee portion of your pay tied to time worked. Indirect pay: mandatory (employer must pay) , and voluntary (dental, Banks in canada and many organizations are changing pay systems in. Base pay: job evaluation, market price, pay for knowledge. Performance pay: individual performance, group performance, (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) Why organizations uses base pay: easy to measure, easy to price in terms of its value to the employer, easy to attribute to individual employees, controllable by the individual employee, relatively stable.