COMM 203 Study Guide - Final Guide: Equal Pay For Equal Work, Employee Benefits, Insider Trading
Document Summary
Lo1: discuss how organisations implement a total rewards approach to compensating and rewarding employees. Total rewards: a comprehensive approach to compensating and rewarding employees. Total compensation: all types of financial rewards and tangible benefits and services employees receive as part of their employment. Direct compensation: financial rewards employees receive in exchange for their work. Indirect compensation: the benefits and services employees receive in exchange for their work. Attracts a fair working environment and attracts a high-quality workforce. Job structure the relative pay for different jobs in the organization (e. g. difference in pay between a ceo and entry-level accountant). Pay level average amount the organization pays for a particular job. Human rights legislation: employers may not base differences in rewards on an employee"s age, sex, race, or other prohibited ground of discrimination. Employment/labour standards acts: minimum pay, overtime pay, vacation etc.
