Compensation薪酬福利管理-精选文档58页

55
70
75
80
85
• Physical demand
20
25
30
35
40
Responsibility
70
85
100
115
130
Working conditions
30
40
50
60
70
Example: Point values
Compensable Factor Job Knowledge Problem Solving Working Condition Others…
Degree/Level 12345 50 100 150 200 NA 50 100 150 200 260 10 30 50 NA NA
In Biblioteka Baiduhis example:
The compensable factors represent the different dimensions of job performance that are important for organizational success
compare other jobs to the benchmark jobs and determine which should be paid more or less Job grades are created to reflect hierarchy of jobs within the company
Human Resource Management
Compensating Employees
Framework for the
Strategic Management
of Employees
Strategic Purposes of compensation
Attract (the right sort of) people to work for firm Retain (the right sort of) people to work for firm Control Costs and Maintain a budget Motivate exceptional performance
Relative worth hierarchy for determining salaries is established
Pay rates are assigned to jobs Process is done through job evaluation approaches:
Equity theory
Outcome (self)
Inputs (self) <, >, or =
Outcome (other) Inputs (other)
O/I (self) > other
Better performance, feel valued, rationalization to account for overpayment
Establishing the INTERNAL Value of Jobs
Recap:
Select Compensable factors – Dimensions of work that the organization values, that helps it pursue its strategy and achieve its objectives.
Total Compensation in exchange for work
Total Compensation
Relational Forms
Indirect: Benefits and
Services
Direct: Cash
Services & Allowances Time away from work
Establish degrees of factors present in job – scale the factors to identify the different levels for each compensable factor. Essentially, establishing anchors for different levels on a compensable factor.
Job ranking Job classification Point factor Factor comparison
Internal Alignment (cont’d)
(1) Job Ranking Reviewing job descriptions and listing jobs in order
Consequences of inequity
Increase inputs (e.g., time & effort) to justify higher rewards when they feel over-rewarded.
Decrease inputs to compensate for lower rewards when they feel under-rewarded.
Base Pay Incentives • Merit / Cost of Living • Short Term bonus • Long term bonus
Recognition / Status Job security Challenging Work Learning Opportunities Personal Satisfaction Good Culture
Internal Alignment (cont’d)
(2) Job Classification Developing broad descriptions for groups of jobs
that are similar in terms of tasks, duties, responsibilities and qualifications Wage range is attached to each classification reflecting relative worth of the job in that classification E.g., the federal government’s ‘prefix GS’ Sometimes managers want to reclassify jobs to give a particular employee a higher salary
Distort reality by rationalizing that the inequities are justified. Leave the situation in inequities cannot be resolved.
Internal Alignment
Occurs when each job in a company is valued appropriately relative to every other job in terms of its ability to help the firm achieve its goals
Reward employees for past performance Reduce unnecessary turnover Maintain salary equity among employees
Also - Reinforces (or conflicts with) the attitudes and behaviors encouraged with
Internal Alignment (cont’d)
(3) Point Method
Quantitative approach that uses a point value scheme resulting in a score for each job
Begins with identifying a set of factors for which the company is willing to pay — called “compensable factors
Point manual contains description of each factor and what each degree of the factor represents
Internal Alignment (cont’d)
(3) Point method (cont’d) Represent the range of jobs in the company Scores for these jobs enable company to
Example of Point Values
Factor
1st Degree 2ndDegree 3rdDegree 4thDegree 5thDegree
Skill
• Job knowledge
20
40
60
80
100
• Experience
35
45
55
65
75
Effort
• Mental demand
Change the compensation they receive through legal or other actions (e.g., unionization, grievance)
Modify their comparisons by choosing another person to compare them-selves against.
Compensable Factor Job Knowledge Problem Solving Working Condition
from highest to lowest worth to company Fairly hard to do in a large company Need to create a framework to process the
information found in all the job descriptions Largely subjective
Compensation refers to the monetary and nonmonetary consideration employees receive in exchange for the work they perform for an organization
Must look at TOTAL compensation – not just base pay…
Assign factor weights – what is the relative importance of each dimension of job performance? Weights enable companies to allocate more weight to more important compensable factors than other less important compensable factors.
the performance management system.
What is Compensation?
To counterbalance To make up for To offset (inducements) in exchange for employee
contributions.
O/I (self) < other
restore equity, seek to increase outcomes, lower inputs
Comparisons may be with (a) people inside the firm, (b) outside the firm, or (c) self (what it should be).