COMM 410 Chapter : 8.Compensation.pdf
Document Summary
All forms of pay/benefits provided to employees from employment. Direct financial payments [wages, salaries, incentives, commissions, bonuses] Pay by employee skills/competences instead of job description. Sets minimum pay [wages, hours, overtime, vacation, holidays, termination] Executive, administrative, and professionals are exempt from overtime requirements. Pay equity acts - ensures women"s work compensation is comparable to male-dominated, primarily in the public sector. Human rights act - protect from discrimination in compensation and other grounds. Canada/quebec pension plan, workers compensation legislation, employment insurance. Union leaders believe workers are best judges of work compensation. Lagging: giving less base pay than market average, but provide incentive programs that result overall payout that exceeds average. Basis for pay increases, leader or follower in pay. External equity: comparable pay with other co. , internal equity: comparable pay within. Procedural justice: perceived fair policies in determining pay. Distributive justice: perceived fair rate of pay for given job. Use network, government statistics, review ads, professional association reports.
