MHR 523 Chapter Notes - Chapter 11: Total Rewards, Hay Group, Pension

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Total rewards integrated package of all rewards: monetary, non-monetary, extrinsic, and intrinsic. alignment extent to which rewards support outcomes that are important to the organization"s strategic objective. benefits includes indirect payments; example: employer paid vacations. work/life programs flexible scheduling, child care etc. development and career opportunities planning for advancement or change in responsibilities. Engagement positive emotional connection to employer and a clear understanding of strategic significance of the job. aimed at determining a job"s relative worth. Focuses on benchmark jobs (ones that are critical to the firm"s operations, or commonly found in other organizations) compensable factors: most of the pay equity acts in canada focus on: working conditions www. notesolution. com: hay group consulting firm focuses on: wage/salary survey: aimed at determining prevailing wage rates. Stage three: combine the job evaluation and salary survey info to determine pay for jobs.

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