MHR 523 Study Guide - Final Guide: Job Evaluation, University Of London Union, Prevailing Wage
30 Jun 2016
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Document Summary
Total employment rewards: an integrated package of all rewards (monetary and non-monetary, extrinsic and intrinsic) gained by employees arising from their employment: categories into 3 broad categories. Compensation (extrinsic), benefits (extrinsic), and non-monetary rewards (intrinsic: 2 types. Training and development, how an employee can move up total awards approach: rewards are part of integrated whole, aligns rewards with business strategies, five elements: Company more flexible to allow employee to work at home or pick hours. Where there is an opportunity for growth like the company paying for education, training etc: help to provide a more prod rewards which helps employees feel important o. How a company decides to make a pay rate. Establishing a pay rate: stage 1: job evaluation, stage 2: conduct wage/salary survey, stage 3: combine job evaluation and salary survey to determine pay. Stage 1: job evaluation: a systematic comparison to determine relative worth of jobs within a firm.
