HRT 350 Lecture Notes - Lecture 8: W. M. Keck Observatory, Prevailing Wage, Reinforcement

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Chapter 8 Compensation Administration
Types of Compensation
Total Reward monetary compensation + nonmonetary compensation
Direct Compensation pay in exchange for productive work
Indirect Compensation benefits (Health insurance, Social Security, Vacation/sick pay,
Types of Employees Classified by Fed Gov.
Exempt Employees
o Managers, executives, administrators, professionals, outside sales people
o Exempt from overtime pay No overtime pay
Non-Exempt Employees
o All other employees who are due overtime pay when they work more than 40
hours in a week
Potential abuse of Fair Labor Standard Act
o ‘managers’ doing the work of Non-Exempt employees
o Employers ignoring job classifications are subject to federal labor violations and
Influences on Compensation Plans
Cost of living
o U.S. Consumer Price Index “inflation”
o Adjustments may be made to remain competitive
Labor market influences
o Number of workers available to work
o Varies according to region and industries
Union influences
o Trend toward higher wages in unions
o Successful at negotiating wage adjustments for inflation conditions
Government influences
o Changes in minimum wage
o Wage Legislation:
Social security
Overtime pay
Equal pay act
Motivating Employees?
Does money motivate everyone? NO
Two Theories for Employee Motivation:
o Content Theories
Motivation based on common needs
o Process Theories
Motivation based on certain factors or based on the situation
Content Theories of Motivation
Maslow’s Hierarchy of Needs Theory
o Based on theory of human development
o After safety and security met, then what?
o Self Esteem & Self Achievement are desired:
Money is not sole motivating factor
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