HRM200 Chapter 11: Chapter 11

• School: University of Waterloo
• Department: Human Resources Management
• Course: HRM200
• Professor: Katrina Di Gravio

Document Summary

1: direct financial payments: wages, salaries, incentives, commissions, bonuses (based on compensable factors) Aligned reward strategy: compensation package that produces employee behaviours the firm needs to attain its goals. 1: compensation: financial payments such as wages or incentives. 2: benefits: such as insurance, vacations, or services. 3: work life programs: help balance the job with flexible scheduling/telecommuting. 4: performance and recognition: pay based on how well someone does to recognize their efforts. 5: development and career opportunities: planning for a change in responsibilities with employers paying for tuition, etc. 2: pay equity acts: equal pay for equal work despite gender differences. External: employees think their pay is fair given the pay rates in other organizations. Internal: employees think their pay is fair compared to the pay of others in the organization. 3: human rights acts: protect from discrimination on varying grounds. 4: canada/quebec pension plan: all employees must contribute to their plan while working.