WDW101Y1 Lecture 1: Lecture 1&2
25 Mar 2016
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How should your pay be set? a. against the external market (get the most you can negotiate: internal equity (ensure fairness of pay amongst your co-workers) manager has to think about who employess should to compared themselves with. How would you prefer to get paid: 100% commission/ no base salary b. 100% base salary (no opportunity for more based on performance) Should a company pay a. more than other companies (attract best but costs most) b. the same as others (can find same pay elsewhere) c. less than others (excellent work environment; not-for-profit) Which would you prefer? a. health benefits/ insurance b. additional pay all the organizations have limited resources, but they want to use those resources to make everyone as much happy as possible. needs of the organization compensation choices: Rsb program: the salary & benefits increase with the time you stay in the organization. deferring your taxes compensation is the no. 1 cost in an organization (labor cost)
