Management and Organizational Studies 3342A/B Chapter Notes - Chapter 1: Total Rewards, Costco, Human Capital

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 3342A/B
• Professor: Jennifer Robertson

Document Summary

How people are paid affects their behaviour at work (ex. Fb and google are high paying but have rlly great employees) Poor designed systems can undedrmine an orgs success. Many diff perspectives compensation: refers to all forms of financial returns and tangible services and benefits that employees receive as part of an employment relationship society. Determination comes from human capital, demographic characteristics and job characteristics. By investing they"ll improve performance which will grow their stock. However it can hurt bc maybe all the money will go to executives managers. Labour costs are more than 50% of total costs. Although labour costs at costco are higher than walmart they"ve maintained high quality employees and have a lower turnover rate employees. In countries such as china and sweden they believe pay is an entitlement regardless of performance and its normal to negotiate compensation global views. In other countries its abt return and reward.