BU354 Lecture Notes - Lecture 14: Flextime, Performance Appraisal, Telecommuting
Document Summary
Compensation that enhances motivation and growth while aligning employee efforts with the objectives, philosophies, and culture of organization. An integrated package for all rewards received by employees from their employers. Benefits (e. g. employers pay 20-35/40% of salary to cover benefits) Organizations look at certain things when determining compensation levels. Equity within organization (internal equity vs. what people are paid outside of company) Where do people fall within the scale; outliers (above or below, issues) Based on industry standards: various ways to fin data. Ksas, engagement levels, what you bring to the job. Hay evaluation system: midpoint of salary range is what you would pay a fully qualified person. Where you fall in the range has to do with ksas, effectiveness, performance. 100% of range is where somebody who is doing everything they"re supposed to do has good performance should be paid.
