COMMERCE 2BC3 Chapter Notes -Scatter Plot, Procedural Justice, Canadian Human Rights Act

• School: McMaster University
• Department: Commerce
• Course: COMMERCE 2BC3
• Professor: F O U Z I A

Document Summary

Total rewards: monetary and non-monetary rewards provided to employees in order to attract, motivate, and retain them. An important factor affecting how and why people choose to work at one organization versus others. Must user reasonably competitive with several types of compensation. Because so many organizational funds are spent on employees, it is critical for top management and hr executives to match total rewards systems and practices with what the organization is trying to accomplish. A number of important decisions must be made to achieve the following objectives: Legal compliance with all appropriate laws and regulations. Performance recognition and talent management for employees. Must balance their costs at a level that rewards employees sufficiently for their ksas and performance accomplishments. Can be explained in 2 ways: intrinsic and extrinsic ways. Intrinsic rewards: are those rewards that are derived from the working environment such as personal growth, and job satisfaction, etc.