Cha 7 - Recognizing and rewarding

Benets 3540 of annual payroll costs what is the true

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Unformatted text preview: le: skill, mental effort, physical effort, responsibility and working condiFons - base on the key job in the organization - comparators, use in pay equity CompensaFon structure •  What is the contribuFon of the wage and salary survey? •  The wage curve, pay grades, and rate ranges [212] •  What about competency ­based pay? •  Broad ­banding? IncenFve plans •  Also known as variable pay programs •  Types: –  Individual bonus –  Team or group ­based incenFves –  Merit raises –  Gainsharing –  Profit ­sharing –  ESOPS remedy and perverse incentives •  EffecFve? Benefits 35~40% of annual payroll costs •  What is the true cost of an employee, considering wages and benefits? (As high as 1.4x salary?) •  Why do organizaFons pay for ee benefits? Because everyone else is doing it? •  Are benefits typically a fixed or variable cost? [216] there are no pure fixed or variable cost, but mix. •  How are empl...
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