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Lecture

Compensation Lecture2.docx

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Department
Administrative Studies
Course
ADMS 3490
Professor
Parbudyal Singh
Semester
Winter

Description
Compensation­Lecture 2 A Strategic Framework for Compensation Classical • Assume workers don’t want to work, they have to be controlled  • Historical philosophy Human Relations • Paternalistic  The concept of fit and strategic compensation • A companies pay system depends on several factors • These factors include the organizations strategy, the amount of training required  and received, turnover rates • There is no one best way to pay people, its contextual. Values vary across  different organizations • In the two examples, both are probably good pay systems An organizational System • To understand a pay system you must understand the organization • Organizations are systems that transfer, that has inputs at one end and produces  outputs that has a feedback loop • Take inputs (money, tech, space, people) and develop a system, where you  convert the inputs into outputs • The output mu
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