MHR 523 Lecture Notes - Lecture 7: Job Satisfaction, Organizational Culture, Distributive Justice

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Establishing strategic pay plans , pay for performance, and financial incentives. An integrated package of all rewards (monetary / non monetary, extrinsic and intrinsic) gained by employees arising from their employment. Incentenvise the behaviours that they want from their employees. Money can be a symbol both intrinsic / extrinsic. Compensation policies ex. how is overtime paid. Equity and it"s impact on pay rates. Steps in establishing pay rates: job evaluation, consider a wage/salary survey, combine job evaluation and salary survey to determine pay. Systematic comparison to determine relative worth of jobs within a rm. Critical to operations or commonly found in other organizations. One that is central to your company. The reason the person is paid a certain amount. Giving value to employees skills using sub factors by using numbers. Not evaluating the employee but the requirement of job itself. Je aimed at creating / maintaining internal equity by comparing the relative worth of jobs within an organization.

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