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

26 views4 pages
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,
etc.)
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
lawsuits
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
Unlock document

This preview shows page 1 of the document.
Unlock all 4 pages and 3 million more documents.

Already have an account? Log in

Get OneClass Notes+

Unlimited access to class notes and textbook notes.

YearlyBest Value
75% OFF
$8 USD/m
Monthly
$30 USD/m
You will be charged $96 USD upfront and auto renewed at the end of each cycle. You may cancel anytime under Payment Settings. For more information, see our Terms and Privacy.
Payments are encrypted using 256-bit SSL. Powered by Stripe.