BUS 272 Lecture Notes - Job Evaluation, Job Design, Golden Handcuffs

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 272
• Professor: Graeme Coetzer

Document Summary

Money means different things to people: symbol of success, reinforce and motivator, reflection of performance, source of less/more anxiety. Differences in meaning of money by gender and culture. Advantages: guaranteed wages may attract job applicants, seniority-based rewards reduce turnover. Disadvantages: doesn"t motivate job performance, discourages poor performers from leaving, may act as golden handcuffs (the people to the job) Job evaluation tries to maintain fairness: motivates competition for promotions. Disadvantages: employees exaggerate duties, hoard resources, reinforces status, encourage hierarchy, might undermine cost-efficiency and responsiveness. Skill-based pay: pay increases with skill modules learned. Advantages: more flexible work force, better quality, consistent with employability. Disadvantages: potentially subjective, higher training costs. Individual rewards: salespeople earns commission, earn bonuses for specific task or exceeding annual performance goals. Team rewards: gainsharing plans: calculate bonuses from the work unit"s cost savings and productivity improvement. Organizational rewards: organizational bonuses (company trips, employee share ownership plans (esops) Encourage employees to buy company shares: share options.