SMO416 Lecture Notes - Lecture 1: Operating Expense, Reward System, Occupational Safety And Health
6 Sep 2018
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Document Summary
Includes: economic needs for the basic necessities of life, needs for security, social interaction, status, achievement, recognition, and growth and development, extrinsic rewards, factors that satisfy basic human needs for, survival, security, social needs, needs for recognition. Intrinsic rewards: factors that satisfy higher-order human needs for, self-esteem, achievement, growth, development. Incentive: positive consequences of performing behaviours desired by the organization, and employees normally receive these rewards, subsequent to performing the behaviour (extrinsic rewards, during performance of the behaviour (intrinsic rewards) Include work/life balance: promise that a specified reward will be provided if employee performs a specified behaviour. Road map to effective compensation: step i: Understand organizational context: the reward system is part of the total organizational system, and must fit with and support the other parts: step ii: Determine mix of compensation components to include and total level of compensation components to include and total level of compensation to provide, relative to other employers: step iii:
