HRM303 Chapter Notes - Chapter 6: Balance Sheet, Lump Sum, Job Sharing
10 Aug 2016
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Chapter 6: formulating the reward and compensation strategy. To apple this process effectively, you need foundation of four basic undestandings: understanding of organization and context, understanding of workforce, understanding of compensation options, understanding of compensation constraints. Four types affect compensation systems: employment standards act: sets minimum standards for wages, hours of work, human rights act which prohibit employment discrimination (gender, sex, ethnicity, legislation relating to unions and collective bargaining. Legislation that sets minimum standards for pay and other conditions of employment. Legal difference between employee and contractor: contract need not work at payer"s premises, can accept/refuse work from payer, can choose time/manner which work will be competed. Use overtime to avoid the cost of hiring new employees. Legislation that prohibits discrimination in hiring or employment on basis of race, ethnic origin, religion, gender, martial status or age. Legislation that defines rights of parties involved in collective bargaining relationship.
