ADMS 2600 Chapter Notes - Chapter 9: Collective Bargaining, Expectancy Theory, Job Evaluation

• School: York University
• Department: Administrative Studies
• Course: ADMS 2600
• Professor: Paul Fairlie

Document Summary

Pay equity: embraces the concept of fairness, an employee"s perception that compensation received is equal to the value of the work perform, perception can have effects on their motivation for both work behavior and productivity. Internal factors of wage mix: employer"s compensation strategy relationship among jobs/skill levels, (2) external compeititon or employerspay position. : set pay policies reflecting (1) internal wage relative to what competitiors are paying, (3) policy of rewarding employee performance, (4) administrative decisions: worth of job. : determined by the productivity of its employees (capital/performance). Increase in capital, reduce the # of employees, increase employer"s ability to provide higher pay. Competition and recessions can force prices down and reduce income. External factors of wage mix: labour market conditions help influence wage rate to recruit/retain competent employees. Counterforce"s can reduce the full impact of supply&demand. : reflects the forces of supply/demand for qualified labour, and: area wage rates.