BUS 381 Lecture Notes - Lecture 9: Job Performance, Human Capital, Life Insurance

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Traditional pay: job, seniority base (salary and salary increases based on this) Not added to base pay (merit): variable pay. Individual: piecework plans and commission, bonus, stock options. Improve motivation expectancy : effort increased means better performance. Instrumentality : links between higher performance means better outcome. Valence and outcome: do i care about the award. Rewards: pay, recognition (public, private), status, time, sabbaticals, trust and respect, Incentives for professional: relatively high salaries; increases are not as motivating. Intrinsic value, high quality work, peer recognition, better equipment, support for publishing work. Define, measure perf => allocate available rewards only (financial/nonfinancial, visible, Contingent, timely, reversible (variable pay does not stick)) all employees eligible. Supplementary health life insurance, vacation, pension, education plans, discounts. Ei, pay on termination of employment, cpp/qpp, workers compensation, vacations, holidays, paid breaks leaves of absence: unpaid/paid time off. Maternity/parental leave (17 weeks in bc), parental/adoption leave (37 weeks in bc), bereavement leave, compassionate care leave.

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