MHR 505 Lecture Notes - Lecture 2: Golden Handcuffs, Job Evaluation, Profit Sharing

• School: Ryerson University
• Department: Human Resources
• Course: MHR 505
• Professor: Jonathan Hughes

Document Summary

Different meanings of money: symbol of achievements/status; motivator; performance indicator; anxiety source/avoider. Strong money ethic when money is perceived as: not evil, achievement/power symbol, budget carefully. Gender differences more valued by men: men: money is a symbol of power/status, women: money is instrumental (exchanged) Cultural differences: money importance increases with power distance. Advantages: guaranteed wages may attract job applicants, seniority-based rewards reduce turnover. Disadvantages: do(cid:374)"t dire(cid:272)tly (cid:373)oti(cid:448)ate jo(cid:271) perfor(cid:373)a(cid:374)(cid:272)e, discourages poor performers from leaving, potential golden handcuffs (tie people to job) Advantages: job evaluation tries to maintain fairness, motivates competition for promotions. Disadvantages: encourages bureaucratic hierarchy, reinforces status vs egalitarian culture, employees exaggerate duties, hoard resources. Organizational rewards: esops, share options, profit-sharing. Evaluation organizational rewards: e ops a(cid:374)d share optio(cid:374)s (cid:272)reate (cid:862)o(cid:449)(cid:374)ership (cid:272)ulture(cid:863, profit shari(cid:374)g adjusts pay (cid:449)ith fir(cid:373)"s prosperity, problem: organizational rewards have weak p-to-o link. Assigning tasks to a job including the interdependency of those tasks with other jobs.