HROB 3010 Chapter Notes - Chapter 8: Cash Flow, Organizational Architecture, Job Analysis

• School: University of Guelph
• Department: Human Resources and Organizational Behaviour
• Course: HROB 3010
• Professor: Rhonda Gordon

Document Summary

Chapter 8 designing pay levels, mix, and pay structures. Determine pay level policy (specify employers external pay policy) Define purpose of survey (define purpose of compensation survey) Define relevant market (choose relevant market competitors to survey) Interpret and apply results (interpret survey results and construct market pay line) Design grades and ranges or bands (balance competitiveness with internal alignment through. Some major decisions in pay level determination: the use of ranges, flat rates, and/or bands) Compensation survey- the systematic process of collecting and making judgments about the compensation paid by other employees. Provide data translating policy into pay levels, pay mix, and structures. Employer conducts or participates in compensation survey because: Most firms make adjustments to employees pay on regular basis based on overall upward movement of pay rates caused by competition for people in the market or on performance, ability to pay, or terms specified in contract.