MGT 3320 Lecture : HR Management Notes Pt 3
Document Summary
Employee compensation: the hr practice of rewarding employees for their contributions. Compensation is more than receiving paychecks: includes benefits (insurance, retirement, paid time off, can be psychological too (loyalty, safety) How does paying employees more, benefit a company: if you are paid a little more then you will be willing to be more productive. Internal labor: focusing on job security as compensation rather, desire for internal equity: more of a focus on what other employees in the same company are making, relational commitment: sticking around because of loyalty, social ties, and relationships. Differentiation: emphasis on paying for performance, variable rewards (ties close in with pay for performance) Cost: pay is less tied to performance; emphasis is on equality, uniform rewards. Motivation: a force that directs, energizes and sustains behavior. How does motivation affect behavior: behavioral choice. The level of motivation you have influences how you behave: intensity. How much effort you"re willing to put forth: persistence.
