ADMS 2600 Lecture Notes - Lecture 8: Equal Pay For Equal Work, Scatter Plot, Collective Bargaining

• School: York University
• Department: Administrative Studies
• Course: ADMS 2600
• Professor: Paul Fairlie

Document Summary

Strategic compensation links the compensation of employees to the mission, objectives, philosophies, and culture of the organization. Looking for behaviours your paying for, attract a smaller pool of individuals with money. Reward past employee"s performance sends a signal to continue and engage them to continue. To remain competitive in the labour being competitive. To mesh employee"s future performances with organization goals, pay people for behaviour that correlates with the company"s strategy. Pay equity an employee"s perception that compensation received is equal to the value of the work performed. Employees perception can be incorrect, they feel like they aren"t paying fairly, based on what they are putting in. Education, effort = can be a factor on why you think you need to be paid more for your service. Comparing myself to someone that"s doing the same task as me that"s getting the same or more money then me. Pay equity comes from comparison (could be wrong your perception)