1. Where we have been:
HRM and Business / Strategy
HR Planning
Job Analysis / Job Descriptions
Legal/ Legal/ Legal issues in HRM
Recruiting employees
Reliability and validity in HRM
Selecting employees
Training and developing employees
____________________________
(for final exam – some still to be uncovered)
Performance Management
Compensation and Benefits
Labor Relations
Safety and Health
Organizational Exit

2. Compensation System

3. A Few Additional Pay Considerations
Consider Incentives – both at the individual and group levels - in pay systems.
Pay increases become part of base pay while bonus-type pay creates one-time expenditures.
Executive Compensation is decided separately from usual pay systems – and there are many considerations concerning appropriate executive pay.

4. Individual Incentives
Piece-Rate Incentive
Commissions
Skill-Based Pay
Merit Pay
Bonuses

5. Group Incentives Profit Sharing Gain-Sharing Plans
Employee Stock Ownership Plans (ESOPs)

6. Benefits Introduction Security and Insurance Benefits
Payments for Time Not Worked
Employee Services
Pensions

7. Introduction Growth in Benefits Employer’s Objectives for Benefits
Benefit Design Program Issues

8. Security and Insurance Benefits
Medical Insurance
Sick Leave
Life Insurance
Disability Insurance
Supplemental Unemployment Insurance
Pension Plans
Severance Pay
Social Security
Unemployment Insurance
Worker’s Compensation

9. Legally Required Benefits
Social Security $
Benefits: retirement pay, dependent survivors pay, disabled pay, Medicare
Employees and employers pay and pay
Unemployment Insurance
Benefits: pays some for 26 weeks of unemployment
Requires eligibility
State of Idaho Unemployment Fund
Most states employer pays all – some not (CA, AL, AK, NJ)
Worker’s Compensation (state laws)
Benefits: medical care, income replacement, survivor’s benefits, rehabilitation services
Goals:
encourage employer interest in safety
reduce lawyer fees
promote studies into causes of accidents
provide sure, prompt income
provide single remedy
reduce drain on private charities

10. Payments for Time Not Worked
Vacations
Holidays
Reporting Pay
Personal Time Off
Jury/Witness Duty
Election Official
Marriage Leave
Paternity/Maternity Leave
Paid Lunch & Rest Periods
Sabbaticals

11. Employee Services Re-location, Moving, Transfer Allowances
Stock Purchase Plans
Food Service
Gift Matching
Flexible Work Arrangements
Fitness and Wellness Programs
Tuition Aid, Merchandise Purchasing
Referral Awards
Legal Services, Transportation and Parking
Holiday Bonuses
Service and Seniority Awards
Social Activities
(Many others – creativity and imagination are valuable in the effort to figure out how to reward our employees for working here.)

12. Family Friendly Benefits

13. Friday’s WebCT Pension Plans
What every student should know about retirement saving – in preparation for entering the workforce.