Management and Organizational Studies 3342A/B Chapter 1: Chapter 1 - A Pay Model.docx
10 Dec 2014
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Society views as a measure of justice as well as a cause of increased taxes and price increases. Stockholders paying employees in stock creates a sense of ownership that will improve organizational performance. Managers view as a major expense and a means to influence employee behavior. Employees a return in an exchange with their employer, an entitlement, or a reward. Globally contrasting perspectives of compensation around the world create and add a richness to the topic (i. e. chinese how one is being treated; japanese giving something) Compensation all forms of financial returns and tangible services and benefits that employees receive as part of an employment relationship. Total rewards all rewards received by employees, including cash compensation, benefits and relational returns. Relational returns psychological returns employees believe they receive in the workplace. Base pay wage or salary the case compensation an employee receives for the work performed. Wage pay expressed at an hourly rate.
