Ch2 - 71-342 Compensation Management Chapter 2 A Strategic...

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71-342: Compensation Management 1 Chapter 2 A Strategic Framework for Compensation
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71-342: Compensation Management 2 Road Towards Strategic Compensation Early 1900s – The Personnel Function Classical approach of managing employees Scientific management practices to control labor costs Welfare practices to maintain control over labor Minimize employees’ desire for union representation
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71-342: Compensation Management 3 Road Towards Strategic Compensation (contd.) During 1980s – Transformation of Personnel Function Rise of the Human Relations approach Paternalistic approach: The case of IBM More Recently – Strategic HRM High-involvement approach Human Resource as a ‘Strategic Resource ’ required for maintaining organizations’ competitive advantage. Emphasis on intrinsic rewards, pay for knowledge About 27% of Canadian companies practice high- involvement approach
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71-342: Compensation Management 4
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This note was uploaded on 11/28/2011 for the course FINANCE 101 taught by Professor Chan during the Spring '11 term at Aarhus Universitet.

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Ch2 - 71-342 Compensation Management Chapter 2 A Strategic...

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