BUS 082 Lecture Notes - Lecture 12: Canada Pension Plan, Performance Appraisal, Unemployment Benefits
17 Sep 2020
School
Department
Course
Professor
Document Summary
Newly-hired employees often complete an orientation program: inform employees about company policies, employee manuals, describe benefits/programs, training. Training programs: on-the-job training, classroom and computer-based training, management development. Performance appraisal: evaluation of and feedback on an employee"s job performance. Effective performance reviews: take place several times a year, are linked to organizational goals, are based on objective measures, take place in the form of a two-way conversation. Some firms conduct peer reviews (assess performance of co-workers) May conduct a 360-degree performance review, a process that gathers feedback from a review panel that includes co-workers, supervisors, team members, subordinates, and sometimes customers. Compensation: the amount employees are paid in money and benefits. Wage: pay based on an hourly rate or the amount of work accomplished. Salary: pay calculated on a periodic basis, such as weekly or monthly. Most firms base compensation decisions on five factors: what competing companies are paying, government regulation, the cost of living, company profits, employee"s productivity.
