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Unformatted text preview: Pay scales raised annually Industry comparisons of compensation only Santa Claus bonuses Compensation Approaches Traditional Approach compensation is primarily base pay. Bonuses are for executives only Fixed benefits tied to long tenure Pay grade progression is bases on organizational promotions One organization wide pay plan for all employees. No raises for length of service No raises for longer service poor performers Market-adjusted pay structure Broader industry comparison Bonuses tires to performance results Total Rewards Approach Annual/long term incentives provided to all employees Flexible and portable benefits offered Knowledge bases broadbands determine pay grade Multiple pay plans consider job family, location, and business units Variable pay used with base pay...
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This note was uploaded on 10/19/2011 for the course HTM 260 taught by Professor Fernsten during the Spring '08 term at UMass (Amherst).
- Spring '08