Textbook Notes (362,755)
Canada (158,052)
York University (12,350)
HRM 3490 (10)
Ping Peng (10)

Evaluating the Market

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York University
Human Resources Management
HRM 3490
Ping Peng

Chapter 8Understanding the Labour MarketThe price wage for a particular type of labour depends on the demand for that labour relative to the supply for that labour constrained by the ability of employers to payDemandSupplyAbilityPublic sector employees at the lower end of the job hierarchy usually earn more than comparable employees in the private sector while public sector employees at the tops of the job hierarchy usually earn less than they would in the private sectorOn average unionized employees receive considerably more compensation than comparable nonunion employees Male employees earn more than female employees on averageEmployees in large firms earn more than those in small firmsEmployees in Alberta and Ontario earn more than those in other provincesEmployees in the resources sector earn more than those in the service sectorPay is affected by compensating differentialsCompensating Differentiala higher compensation level offered by an employer because of undesirable aspects of employment at that employerCost of living in Alberta and Ontario is higher than most provincesSeasonal EmploymentWorkers in the resource sector have to endure periods of unemploymentPoor working conditionsPoor industry reputationtobacco companiesDefining the Relevant Labour MarketAn employer needs to know what its competitors are paying their employeesIf an employer is paying less than its competitors in the labour market then it will not be able to attract and retain good employeesIf an employer is paying more than its competitors in the same productservice market then it may have difficulty offering its product or service at a competitive priceOccupational groupingGeographic scope of the marketMarket comparator firmsfirms selected as comparators when constructing a sample of market data
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