MHR 749 Lecture Notes - Lecture 1: Merit Pay, Savings Account, Life Insurance

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Compensation is 40-50%(cid:894)? (cid:895) of the (cid:272)o(cid:373)pa(cid:374)y"s yearly operati(cid:374)g (cid:271)udget. Think pair share bonus: benefits company car/phone, reciprocal programs, relational returns networking. Incentives are a one-time payment which differs from merit adjustments. Incentives may be long-term (stock ownership, or stock options) or short-term. Income protection: medical insurance, retirement programs, life insurance, and savings plans are common, work/life balance. Includes time away from work, access to services, and flexible work arrangements: allowances often grow out of short supply, housing and transportation allowances. [co(cid:373)pe(cid:374)satio(cid:374) does(cid:374)"t (cid:373)ea(cid:374) the sa(cid:373)e thi(cid:374)g to e(cid:448)eryo(cid:374)e] Some people see pay as a measure of justice. Laws and regulations aim to eliminate the gap between male/female earnings differentials. Benefits may also be seen as a reflection of equality or justice in society. Job losses (or gains) in a country is partly a function of labor costs (and productivity). Some stockholders say using stock to pay employees creates a sense of ownership.

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