MHR 749- Midterm Exam Guide - Comprehensive Notes for the exam ( 18 pages long!)

• School: Ryerson University
• Department: Human Resources
• Course: MHR 749
• Professor: Margaret Yap

Document Summary

Total compensation cash compensation; short-term incentives, long-term incentives, merit pay/bonuses, cost of living adjustment. Benefits medical, life, health, pension, work/life balance programs, allowances. Total cash benefit guaranteed pay; fixed salaries, which includes base and bonus. Total base pay - base pay wage or salary is the cash compensation an employee receives for the work performed. Base pay tends to reflect the value of the work or skills and generally ignores differences attributable to individual employees. For example: some employees may be paid more than the base pay because of the relative skills and education they have. Total reward all rewards received form employees, including cash compensation, benefits and relation returns. Total incentive one time payments for meeting pre-established performance objectives in a future time period. Incentive programs can lead to an undesired outcome and can cause high turnover because of team performance. Internal alignment (internal equity) the relationships between the jobs in a single organization.