Textbook Notes (368,413)
Canada (161,874)
MHR 523 (321)
Chapter 11

Chapter 11 - Strategic Pay Plans

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Department
Human Resources
Course
MHR 523
Professor
Margaret Yap
Semester
Summer

Description
Chapter 11 Strategic Pay Plans 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 organizations strategic objective The five components of Total Rewards Compensation includes direct financial payments Benefits includes indirect payments; example: employer paid vacations WorkLife programs flexible scheduling, child care etc. Performance and recognition pay for performance Development and career opportunities planning for advancement or change in responsibilities Purpose of Total Rewards Attract, retain, and motivateengage em
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