COMPENSATION - OVERVIEW WHAT IS COMPENSATION? PURPOSES BASES FOR COMPENSATION HOW TO IMPLEMENT? TRENDS.

Slides:

Advertisements

Similar presentations

Matakuliah: J0124/Manajemen Sumber Daya Manusia Tahun: 2007/2008 MODUL 16 Compensation Strategies & Practices.

Advertisements

Human Resource Management Lecture-28. Job Pricing.

Chapter Eight Establishing Strategic Reward Plans © 2007 Pearson Education Canada 8-1 Dessler, Cole, Goodman, and Sutherland In-Class Edition Management.

Compensation OS352 HRM Fisher Nov. 4, Agenda SAP Exercise 3 In-class writing Pay system design Internal vs. external equity.

TRADITIONAL COMPENSATION SYSTEM  PAYMENT BASED ON TASKS  ASSUMES STABILITY OF EMPLOYMENT  REWARDS INDIVIDUAL CONTRIBUTIONS  PRIMARILY WAGES, SALARIES,

Compensation Deborah Marsh November Total Rewards Total Rewards definition Total Rewards definition Why Total Rewards? Why Total Rewards? Elements.

OS 352 3/25/08 I. Compensation Systems (chapter 11) A. Types of pay B. Job evaluation and job structure. C. Market pricing. D. The big picture II. Syllabus.

Compensation Part 1: Base Pay OS652 HRM Fisher October 26, 2004.

TurningPoint Slides to accompany By Nelson Lecroix, Niagara College.

COMPENSATION Part I.

COMPENSATION MANAGEMENT

Total Rewards and Compensation

COMPENSATION MANAGEMENT TEAM Sami Kekalainen Bettina Mühlböck Chintana Siri Songkram.

Absenteeism “It is the practice of being an Absence and an absentee is one who habitually stays away”

Compensation Management

Basis for Compensation fixation

Cash, Bonuses, Insurance,

Compensation System Development

Compensation Team 9 Pia Virta Svetlana Velikanova.

Strategic remuneration management

HUMAN RESOURCE What is reward …ing? Freely Inspired from Bratton J., Gold J., Human Resource Management, Theory and Practice, Palgrave, 2003

Total Strategic Compensation Human Resource Management.

HUMAN RESOURCE MANAGEMENT MIHE Mashal Institute of Higher Education.

Compensation:  Compensation is the methods and practices of maintaining balance between interests of operating the company within the fiscal budget and.

Compensating Employees Definition Objective Bases Types Determining Reward Job Evaluation Compensation Structure.

Chapter 13 Rewards and Compensation Copyright © 1999 John Wiley & Sons Canada, Ltd. All rights reserved.

For use with Human Resource Management in South Africa 4e by Grobler, Wärnich et al ISBN: © 2010 Cengage Learning CHAPTER 11 Managing compensation.

Managing Human Resources,12e, by Bohlander/Snell/Sherman (c) 2001 South-Western/Thomson Learning 9-1 Managing Human Resources Managing Human Resources.

Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall 7-1 Compensating Employees 7.

Compensating Employees Definition Objective Bases Types Determining Reward Job Evaluation Compensation Structure.

Chapter Eleven Compensation System Development. Copyright © Houghton Mifflin Company. All rights reserved. 11–2 Chapter Outline Employee Satisfaction.

C OMPENSATION AND B ENEFITS A DMINISTRATION. C OMPENSATION This is what employees receive in exchange for their work. The function of providing adequate.

Human Resource Management Lecture 17 MGT 350. Last Lecture Pay Types of Reward Plans Intrinsic versus Extrinsic Rewards Intrinsic Financial versus Nonfinancial.

Strategy for Human Resource Management Lecture 23 HRM 765.

Compensations Team 10 Dominik Pieniak Jean-Olivier Pilon.

Managing Compensation

CHAPTER 11 COMPENSATION PowerPoint Presentation by Charlie Cook Copyright © 2002 South-Western. All rights reserved.

Human Resource Management Lecture 16 MGT 350. Last Lecture Factors that can Distort Appraisals – Leniency error – Halo error – Similarity error – Low.

PERSONNEL MANAGEMENT - IES MCRC, Bandra.. Compensation Plans- Perquisites & Bonus - Lecture 5A.

For use with Human Resource Management in South Africa 4e by Grobler, Wärnich et al ISBN: © 2010 Cengage Learning CHAPTER 11 Managing compensation.

Human Resources Compensation. Chapter 14 Compensation Base wages and Salaries – Hourly/weekly/bi-weekly/monthly pay that employees receive in exchange.

Compensation Management. Compensation Employee compensation – refers to extrinsic and intangible rewards. – refers to all forms of pay or rewards going.

Employee Compensation and Benefits Copyright © Texas Education Agency, All rights reserved.

COMPENSATION AND REWARDS

1. Fundamentals of Public Administration MPA FACILITATOR Prof. Dr. Mohammad Majid Mahmood Lecture – 22.

Compensation Strategy & Structure Strategic role of compensation What determines pay Reward system objectives External & internal considerations.

Chapter 9 Managing Compensation

Compensation Need Assessment Group Members: Aamir Mohammad Syed Wasi Abbas Talha Ahmed Hoban Syed Haris Hussain Sumair Patel.

Copyright © 2015 Pearson Education, Inc.

Strategic Human resource Management compensation.

Compensation TEAM 10: Panu Kurkela Jouko Kyrola Simo Nieminen

Managing Compensation By Muhammad Zohaib Sufyan SZABIST.

© 2008 by Prentice Hall9-1 Human Resource Management Chapter 9 DIRECT FINANCIAL COMPENSATION.

1 Dessler, Cole and Sutherland Human Resources Management in Canada Canadian Ninth Edition Chapter Eleven Establishing Strategic Pay Plans © 2005 Pearson.

PART FOUR Compensation Chapters Chapter 11 Pay and Incentive Systems McGraw-Hill/Irwin © 2006 The McGraw-Hill Companies, Inc. All rights reserved.

Compensation and Benefits. Meaning of Compensation Compensation means what the employees receive in exchange for their work. It is the monetary plus non-

Wages and salaries administration. Compensation management Compensation is what employees receive in exchange for their contribution to the organisation.

Compensation Management HRM Session - 5. Job Evaluation Job evaluation is a systematic process of Analyzing and Evaluating jobs to determine the relative.

BZUPAGES.COM PRESENTATION ON Establishing Strategic Pay Plans.

Jayendra Rimal. Introduction: Compensation Compensation refers to all forms of financial returns and tangible benefits that employees receive as part.

COMPENSATION TEAM 10 Presented by Laura Hirvonen Maria Rintala Satu Strömberg.

ESTABLISHING STRATEGIC PAY PLANS

9 6 Total Rewards C H A P T E R Training Employees

Compensation & Rewards

BP Amoco Finland Team 10: Compensation

CHAPTER 11 COMPENSATION PowerPoint Presentation by Charlie Cook

Establishing Strategic Pay Plans

Managing Compensation

Presentation transcript:

COMPENSATION - OVERVIEW WHAT IS COMPENSATION? PURPOSES BASES FOR COMPENSATION HOW TO IMPLEMENT? TRENDS

WHAT IS COMPENSATION? What do you want from a job? List and rank DIRECT INDIRECT NONFINANCIAL

COMPENSATION - OVERVIEW WHAT IS COMPENSATION? PURPOSES BASES FOR COMPENSATION HOW TO IMPLEMENT TRENDS

COMPENSATION - PURPOSE MUST HAVE PURPOSE REWARD PAST PERFORMANCE REMAIN COMPETITIVE MAINTAIN SALARY EQUITY SALARY COMPRESSION/INVERSION CONTROL COMP BUDGET ATTRACT NEW EMPLOYEES MOTIVATE PEOPLE

HOW TO USE COMPENSATION TO MOTIVATE PAY FOR PERFORMANCE OPTIONS MERIT PAY BONUS COMMISSIONS TEAM/GROUP INCENTIVES PRODUCTIVITY INCREASES 15-35%

ISSUES IN PAY FOR PERFORMANCE HOW TO MEASURE PERFORMANCE WHOM TO INCLUDE HOW MUCH TO OFFER WHAT ARE PAY PERIODS?

COMPENSATION - OVERVIEW WHAT IS COMPENSATION? PURPOSES BASES FOR COMPENSATION HOW TO IMPLEMENT TRENDS

BASES FOR COMPENSATION TRADITIONAL FACTORY PIECEWORK DOOR-TO-DOOR SALARIED

COMPENSATION - OVERVIEW WHAT IS COMPENSATION? PURPOSES BASES FOR COMPENSATION HOW TO IMPLEMENT TRENDS

HOW TO IMPLEMENT - DETERMINING WAGES INTERNAL DETERMINANTS EXTERNAL DETERMINANTS

INTERNAL DETERMINANTS POLICY AND GOALS JOB WORTH EMPLOYEES RELATIVE WORTH EMPLOYER ABILITY TO PAY

JOB EVALUATION SYSTEMS JOB RANKING JOB CLASSIFICATION POINT SYSTEM

EXTERNAL DETERMINANTS LABOUR MARKET CONDITIONS COST OF LIVING COLLECTIVE BARGAINING LEGAL REQUIREMENTS

EXTERNAL EQUITY WAGE AND SALARY SURVEYS

COMPENSATION - OVERVIEW WHAT IS COMPENSATION? PURPOSES BASES FOR COMPENSATION HOW TO IMPLEMENT TRENDS

TRENDS IN COMPENSATION SKILL-BASED PAY BROADBANDING INCENTIVE PLANS