Textbook Notes (381,164)
CA (168,381)
Ryerson (11,724)
MHR (844)
MHR 523 (332)
Chapter 11

Human Resources Management Chapter 11

3 Pages
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Department
Human Resources
Course Code
MHR 523
Professor
Kristyn Scott

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Chapter 11 Notes
THE STRATEGICIMPORTANCE OF TOTAL REWARDS
-Total rewards: an integrated package of all rewards (monetary and nonmonetary, extrinsic and
intrinsic) gained by employees arising from their employment
THE FIVE COMPONENTS OF TOTAL REWARDS
1) CompensationÆ e.g. wages, salaries, incentives, commissions, bonuses
2) BenefitsÆ e.g. insurance, vacations
3) Work/life programsÆ e.g. childcare
4) Performance and recognitionÆe.g. pay-for-performance
5) Development and career opportunitiesÆ e.g. tuition assistance
IMPACT OF REWARDS
-attract, retain and motivate/engage employees
BASIC CONSIDERATIONS IN DETERMINIG PAY RATES
-legal, union issues, compensation policy, equity
LEGAL CONSIDERATIONS IN COMPENSATION
-employment/labour standards Acts (Canada labour code)
-pay equity acts
-human rights acts
-Canada/Quebec pension plan
-other legislation affecting compensationÆ e.g. Employment insurance
UNION INFLUENCE ON COMPENSATION DECISIONS
-Canada labour relations board
-union attitudes toward compensation decisions
COMPENSATION POLICIES
-salary increases, promotion/demotion policies, over-time, probationary pay, jury duty, holidays
EQUITY AND ITS IMPACT ON PAY RATES
-external and internal equity
ESTABLISHING PAY RATES
1) Determine the worth of jobs within the organization through job evaluation and groups with
similar worth into pay grade
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Description
Chapter 11 Notes THE STRATEGICIMPORTANCE OF TOTAL REWARDS -Total rewards: an integrated package of all rewards (monetary and nonmonetary, extrinsic and intrinsic) gained by employees arising from their employment THE FIVE COMPONENTS OF TOTAL REWARDS 1) Compensation e.g. wages, salaries, incentives, commissions, bonuses 2) Benefits e.g. insurance, vacations 3) Worklife programs e.g. childcare 4) Performance and recognitione.g. pay-for-performance 5) Development and career opportunities e.g. tuition assistance IMPACT OF REWARDS -attract, retain and motivateengage employees BASIC CONSIDERATIONS IN DETERMINIG PAY RATES -legal, union issues, compensation policy, equity LEGAL CONSIDERATIONS IN
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