Textbook Notes (231,413)
CA (157,633)
UTSG (11,059)
Rotman Commerce (1,034)
RSM100Y1 (432)
Yu Wang (8)
Chapter 9

Chapter 9 notes (book+lecture)

4 Pages
117 Views
Fall 2010

Department
Rotman Commerce
Course Code
RSM100Y1
Professor
Yu Wang
Chapter
9

This preview shows page 1. Sign up to view the full 4 pages of the document.
CHAPTER 9: REWARDS
Total Rewards: comprehensive approach to compensating and rewarding employees
creates a Value proposition (considers total value received for contributing time and
energy to the company)
-align rewards with business strategy
-focus employees on business goals
-enforce consistent pay strategies
-optimize how reward dollars are used
-control costs
Total compensation : all types of financial rewards and tangible benefits/ services that
employees receive as part of their employment
-base compensation
-pay incentives
-indirect compensation / benefits
Direct compensation: financial reward received in exchange for work
Indirect compensation: benefits/services received in exchange for work
Legal Requirements:
-Human Rights Legislation :
ocannot base prohibited pay based on prohibited grounds of discrimination
odifferences in pay may only be tied to business related considerations
Job descriptions/structures and pay structures can help orgs
demonstrate they are upholding these laws
-Employment/ Labour Standards Act
oMinimum requirements for wages, #hours, overtime, vacas, etc (Canada
labour code)
Some may be exempt (executives)
-Pay equity act
oJobs of equal value receive equal pay
Internal equity perceived fairness of pay structure within a firm
External equity perceived farness of pay compared to what other employees are
paying for the same type of labour
Job Based pay best when:
-Technology is stable
-Jobs do not change often
-Employees don’t need to cover for one and other often
www.notesolution.com

Loved by over 2.2 million students

Over 90% improved by at least one letter grade.

Leah — University of Toronto

OneClass has been such a huge help in my studies at UofT especially since I am a transfer student. OneClass is the study buddy I never had before and definitely gives me the extra push to get from a B to an A!

Leah — University of Toronto
Saarim — University of Michigan

Balancing social life With academics can be difficult, that is why I'm so glad that OneClass is out there where I can find the top notes for all of my classes. Now I can be the all-star student I want to be.

Saarim — University of Michigan
Jenna — University of Wisconsin

As a college student living on a college budget, I love how easy it is to earn gift cards just by submitting my notes.

Jenna — University of Wisconsin
Anne — University of California

OneClass has allowed me to catch up with my most difficult course! #lifesaver

Anne — University of California
Description
CHAPTER 9: REWARDS Total Rewards: comprehensive approach to compensating and rewarding employees creates a Value proposition (considers total value received for contributing time and energy to the company) - align rewards with business strategy - focus employees on business goals - enforce consistent pay strategies - optimize how reward dollars are used - control costs Total compensation : all types of financial rewards and tangible benefits services that employees receive as part of their employment - base compensation - pay incentives - indirect compensation benefits Direct compensation: financial reward received in exchange for work Indirect compensation: benefitsservices received in exchange for work Legal Requirements: - Human Rights Legislation : o cannot base prohibited pay based on prohibited grounds of discrimination o differences in pay may only be tied to business related considerations Job descriptionsstructures and pay structures can help orgs demonstrate they are upholding these laws - Employment Labour Standards Act o Minimum requirements for wages, #hours, overtime, vacas, etc (Canada labour code) Some may be exempt (executives) - Pay equity act o Jobs of equal value receive equal pay Internal equity perceived fairness of pay structure within a firm External equity perceived farness of pay compared to what other employees are paying for the same type of labour Job Based pay best when: - Technology is stable - Jobs do not change often - Employees dont need to cover for one and other often www.notesolution.com
More Less
Unlock Document

Only page 1 are available for preview. Some parts have been intentionally blurred.

Unlock Document
You're Reading a Preview

Unlock to view full version

Unlock Document

You've reached the limit of 4 previews this month

Create an account for unlimited previews.

Already have an account?

Log In


OR

Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit