Compensation

Compensation - Compensation of Human Resources M&IS 34180,...

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Compensation of Human Resources Kent State University
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Relationship Between Pay And HR Outcomes Outcome - Recruiting - Tenure - Satisfaction - Performance - Skill Building Relationship - High - Usually High - Moderate With Overall, But High With Pay Satisfaction - Low To Moderate, Depends On Job - Moderate; Depends on Link
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Compensation Objectives Internal Consistency External Competitiveness Reward Appropriate Behaviors (e.g., performance) Be Perceived As Fair Conform To Relevant Laws Be Cost Effective Be Easy To Administer (e.g., communicate) Be Integrated With Other HR Systems (e.g., performance appraisal) Reinforce Strategic Directions
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Types Of Pay Direct Base Pay Merit Pay Incentives Bonuses Profit Sharing Stock Options Cost Of Living Indirect Protective Benefits Time Off Work Employee Services
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Equity Theory A person evaluates fairness by comparing their ratio with others. OUTCOME INPUTS OUTCOME INPUTS Pay, benefits, opportunities, etc. effort, ability, experience etc. < = > ?
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Concept of Equity Internal Equity internal consistency comparisons among jobs within the company accomplished through job evaluation External Equity external competitiveness comparisons to jobs outside the company accomplished through wage surveys
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Alternative Ways To Pay For The Job For Skill For Seniority For Performance Combination
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This note was uploaded on 04/22/2010 for the course MIS 34180 taught by Professor Staff during the Spring '08 term at Kent State.

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Compensation - Compensation of Human Resources M&IS 34180,...

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