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15 - Commerce 392 Managing the Employment Relationship...

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Professor Tom Knight Spring 2011 PLEASE SIT WITH YOUR TEAM!!! Commerce 392 Managing the Employment Relationship
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March 2, 2011 March 2, 2011 AGENDA: Compensation: Pay for Performance Benefits 2 Managing the Employment Relationship
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HRM Simulation March 2, 2011 Managing the Employment Relationship 3 Period 3 Special Decision: Selection of Employees: A = Female, 30, B.Comm. B = Male, 35, 2 yr. Tech. Degree C = Male, 55, minority, military D = Male, 30, Tech in dep’t. 2 years
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HRM Simulation March 2, 2011 Managing the Employment Relationship 4 Period 4 Decision: Compensation Planning: Decide among 8 possible directions for compensation strategy. Basic: Do job evaluation Incentive/bonus/merit plans Profit or Gainsharing Employee stock ownership Cost of Living protection Or: Leave well enough alone – do nothing
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Pay for Performance “Variable Pay” “Pay at Risk” Incentives, Bonuses etc. Some Key Forms: Profit Sharing Gain Sharing Employee Stock Ownership Pay for Knowledge or Competencies March 2, 2011 5 Managing the Employment Relationship
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