MHR 523 Lecture Notes - Job Evaluation, Railways Act 1921, Job Analysis
18 Apr 2013
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Cash and non-cash rewards employees receive in exchange for their work. Effective compensation management: employees more likely to be satisfied and motivated. When compensation is perceived to be inappropriate: performance, motivation and satisfaction may decline dramatically, employee turnover may occur, dissatisfaction with absolute or relative pay. Job evaluation: determine relative worth or value of jobs, provides for internal equity. Salary surveys: discover what other employers are paying for specific key jobs, provides for external equity, sources of data: e. g. labour canada. Establishing appropriate pay level for each job: combines job evaluation ranking, survey wage rates, and other considerations e. g. organization"s pay policy, wage-trend line developed. Grouping the different pay levels into a structure that can be managed. 3)salary surveys- discover what other employees are paying for specific job, provide for external equity, source of data(ex. 4)price jobs- establish appropriate pay level for each job, combines job evaluation.
