Ch2. 12 Compensation and 13 Variable Pay_w

Ch2. 12 Compensation and 13 Variable Pay_w - On Monday June...

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On Monday, June 7 th In-class training exercise Choose a skill or knowledge that you have that is relatively unique You will have 15 minutes to teach a fellow student your skill or knowledge We’ll use this activity to discuss training related concepts 1
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2 MGMT 321 Compensation and Variable Pay Chapters 12 and 13
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3 Ovania Chemical Case 1. How would you conduct a job analysis for a job that doesn’t exist? 2. What are your opinions of the selection battery (group of tests)? Redundancy? Deficiency? 3. How might you handle the concern about women getting into the dirty treatment tanks? 4. Do you think this test battery and selection procedure would be defensible in court? Why or why not?
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4 Learning Objectives After you have read these chapters, you should be able to: Identify the general types of compensation and the components of each. Discuss issues of strategic compensation design. List the basic provisions of the Fair Labor Standards Act (FLSA). Describe the two means of valuing jobs. Define variable pay and identify elements of successful pay-for-performance plans. Discuss types of individual incentives. Explain ways that sales employees are typically compensated.
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5 Small Group Discussion Do you think pay should be based on job performance, seniority, or a little bit of both? Would you want to know what your coworkers are getting paid? Would you want your coworkers to know how much you make? How could “pay secrecy” help an organization? How could it hurt?
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6 Components of a Compensation System Figure 12–1
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7 Continuum of Compensation Philosophies Figure 12–3
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8 Compensation Quartile Strategies Figure 12–7
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9 Perceptions of Fairness Equity Do perceived inputs equal outputs? Internal Equity – same organization, similar jobs, similar pay Is the compensation provided for this job in this organization about the same as the compensation provided for similar jobs within the organization? External Equity – how does my pay compare to
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This note was uploaded on 02/21/2011 for the course MANAGEMENT 321 taught by Professor Joshi during the Spring '09 term at George Mason.

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Ch2. 12 Compensation and 13 Variable Pay_w - On Monday June...

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