BUS 381 Lecture Notes - Job Evaluation, Prevailing Wage, Unemployment Benefits
20 Nov 2012
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Document Summary
Chapter 11 (week 9) strategic pay plans. An integrated package of all rewards (monetary and non-monetary, extrinsic and intrinsic) gained by employees arising from their employment. The category included direct financial payments in the form of wages, salaries, incentives, commissions and bonuses. Includes indirect payments in the form of financial benefits like employer paid insurance and vacations. Relates to programs that help employees do their job more effectively such as flexible scheduling, childcare etc (ch 13) This category includes pay for performance and recognition programs. Focuses on planning for advancement and changes in responsibilities to best suit individual skills, talents and desires. Tuition assistance, professional development, sabbaticals, coaching and mentoring services all fit into this categorty, Labour standards, human rights, worker"s compensation, employment insurance: legal considerations, union. Unions and labour relations laws have also influences how pay plan are designs. Wage rates, time off pay, income security, cost of living adjustments and pensions: compensation policies, equity and its impact.
