COMM 211 Lecture Notes - Lecture 9: Canadian Human Rights Act, Canada Labour Code, Gender Pay Gap
Document Summary
Tie rewards to the achievement of company objectives. When employees perceive their compensation to be inappropriate, performance, motivation, and satisfaction may incline dramatically. When wages and salaries are not administered properly, the firm may lose employees and the money spent to recruit, select, train, and develop them. Dissatisfaction arises because employee needs are affected by absolute and relative levels of pay. When the total, or absolute, amount of pay is too low, employees cannot meet their psychological or security needs. A more common source of dissatisfaction centers on relative paw, which is an employee"s pay compared with that of other workers. Cash and non-cash rewards employee receive in exchange for their work. Effective compensation management: employees more likely to be satisfied, motivated, and contribute to objectives. Compensation perceived inappropriate: performance, motivation, and satisfaction may decline dramatically, turnover may occur, dissatisfaction with absolute or relative pay, self-esteem needs can be affected.
