12 - Commerce 392 Managing the Employment Relationship...

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Unformatted text preview: Commerce 392 Managing the Employment Relationship Professor Tom Knight Spring 2011 PLEASE SIT WITH YOUR TEAM!!! February 21, 2011 AGENDA: Chapters 4 & 5 Posted Midterm Exam, Review etc. Start Compensation Video, Discussion Problem 2 Managing the Employment Relationship February 21, 2011 Midterm Preparation & Review Start with Learning Objectives on Course Outline Coverage: Through Chapter 4, “Employee Compensation & Rewards” ALL Materials Important: Class Notes, Videos, Readings, HRM Simulation Revised Review Questions Will Be Posted at Vista Next Week 3 Managing the Employment Relationship February 21, 2011 Midterm Exam Monday, February 28, 6:30 – 8:00 p.m. Woodward Lecture Halls Structure: 20 Short Answer, 4 Points Each Case Scenario: 20 Points NO CLASS: WILL BE AVAILABLE HERE TO ANSWER QUESTIONS! 4 Managing the Employment Relationship February 21, 2011 Temporary Staffing Decision Which do you think is the best temporary staffing approach: A = Let Employees Recruit B = Employ the Homeless C = Find Overtime Volunteers D = Use Temporary Staffing Agency 5 Managing the Employment Relationship February 21, 2011 Common Staffing Weaknesses Lack of Strategy Failure to Increase Pool of Applicants Acting on “Gut” Reactions Relying on Resumes Failure Increase Knowledge of Applicants by Using Multiple Methods Failure to Check References 6 Managing the Employment Relationship February 21, 2011 Managing the Employment Relationship The Human Resources Management Balance Sheet: Maximize Value Creation + Minimize Costs, Risks & Losses 7 Managing the Employment Relationship February 21, 2011 Motivation, Commitment, Performance Motivation Commitment Trust 8 Managing the Employment Relationship Knowledge Reward February 21, 2011 Daniel Pink on Motivation http://www.ted.com/talks/lang/eng/d an_pink_on_motivation.html 9 Managing the Employment Relationship February 21, 2011 Motivation What do you see as the strongest motivator for your own future: A = Love & Family B = Being Famous C = Enjoying a Balanced Life D = Being Filthy Rich E = Power 10 Managing the Employment Relationship February 21, 2011 Elements of Compensation Pay: Hourly Wages vs. Salary Incentive & Bonus Pay Pay for Time vs. Pay for Performance Benefits: Insurance, Pension, Paid Time Off Work, Perks Also Non-Monetary Rewards 11 Managing the Employment Relationship February 21, 2011 Legal Context of Compensation Employment Standards: Minimum Wages Timing of Payments Statutory Holidays Vacation Pay Parental Leave Notice of Termination or Pay in Lieu 12 Managing the Employment Relationship February 21, 2011 Legal Context of Compensation Human Rights Legislation No Discrimination at Given Wage Rate Potential Challenge to Promotion/Pay Decisions Pay Equity Legislation “Equal Pay for Work of Equal Value” Addresses Systemic Discrimination Low-Wage Female Job Ghettos Involves Gender-Neutral Revaluing of Work 13 Managing the Employment Relationship February 21, 2011 Legal Context of Compensation Canada Pension Plan Workers’ Compensation Employment Insurance 14 Managing the Employment Relationship February 21, 2011 How Are Pay Levels Set? Compensation Policy: Leader, Follower or Comfortable Middle Ground? Linkages to Business Strategy Wage & Salary Surveys: Benchmarks Actual Labour Market Transactions Importance of External & Internal Equity 15 Managing the Employment Relationship February 21, 2011 How Are Pay Levels Set? Job Evaluations: Relative Worth of Job Content Benchmark Jobs Compensable Factors Skill Effort Responsibility Working Conditions Establish Pay Grades & Job Groups Create Pay Ranges or Bands 16 Managing the Employment Relationship February 21, 2011 A Managerial Problem Medium-Sized Industrial – Transportation & Commodity Processing Company Desire to Bring Front-Line Supervisors into Managerial Team & Salary (vs. Wages) Mindset Elimination of Shift Differential with 10% Salary Increase, No More Overtime, Addition of Bonus Plan Supervisors Complain: Not Being Properly Compensated for Overtime & Call-Outs 17 Managing the Employment Relationship February 21, 2011 A Managerial Problem Most of Supervisors Were Previously in the Bargaining Unit (“Hourly Paid”) They Compare Their Pay to Hourly Paid Employees They Conclude That, Even with Bonus, They Are Under-Paid So: What Do You Do about This Chronic Problem? 18 Managing the Employment Relationship February 21, 2011 Responding to the Supervisors What would be the best response to the supervisor’s complaints: A = Tell Them to Get a Life B = Tell Them to Get to Work C = Pay Them for Working Overtime D = Pay a Bigger Bonus E = Give Them Stock Options 19 Managing the Employment Relationship February 21, 2011 A Managerial Problem Solution Decided by Executive: Restore Pay for Scheduled Overtime & Maintenance Call-Outs Clear Expectation That Unscheduled & CarryOver Work of Limited Time Not Paid as Overtime Reduction of Total Maximum Bonus Available, Tighter Standards 20 Managing the Employment Relationship February 21, 2011 ...
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