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Lecture 7

MHR 523 Lecture 7: MHR Lecture 7
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4 Pages
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Department
Human Resources
Course Code
MHR 523
Professor
Margaret Yap

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MHR Lecture 7 Ratio Scale Problems  Unclear Performance standards  Halo affect similar-to-me bias  Central Tendency: A tendency to rate all employees in the middle pf the scale.  Leniency or strictness bias: The problem that occurs when a supervisor tends to rate all employees either low or high.  Appraisal Bias: The tendency to allow individual differences, such as age, race, sex, to affect the appraisal ratings that these employees receive. Recent effect: Based on the employee’s most recent performance only. Solutions to Rater Errors 1. Understand the potential problems 2. Train supervisors to minimize rater errors and reduce outside factors, such as union pressure and time constraints. 3. Chose or improve right appraisal tool 4. Use multiple raters Who Should Do the Appraising  Supervisors  Self (always complete a self-appraisal form)  Peers STRATEGIC PAY PLANS (Chapter 11) Strategic Importance of Total Employment Rewards Employee Compensation:  It includes all forms of pay going to employees and arising from their employment  Direct Financial Payments:Wages,salries, incentives  Indirect financial payments: like employer-paid insurance and vacations  Aligning total Rewards with strategy: It means creating a compensation package such wages, incentives, and benefits) which produces the employee behaviours the firm needs to achieve its competitive strategy. Employment Awards Objectives of Compensation Management 1. To attract the best and the brightest (Acquire) 2. To hold on to the employees (Retain) 3. To ensure that my people are fairly paid (Equity-internal and external, relative worth). Wage and Salaries-Establishing Pay Rates Stage 1: Job Evaluation (internal) Stage 2: Conduct Wage/Salary Survey (external) Stage 3: Combine Job Evaluation and Salary Survey to determine pay Job Analysis: The systematic study of a job to disover its specifications and skill requirement Stage 1: Job Evaluation Conduct a systematic comparison to find the relative worth of jobs within a firm.  The procedure is to compare the content of jobs in relation to one another, for example, in terms of their effort, responsibilit
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