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HRM3705 SU8
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STUDY UNIT 8 CHAP 10
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Chapter Topics• Major Decisions
• Specify Competitive Pay Policy
•
COMPENSATION MANAGEMENT
The Purpose
p of a Survey
y
• Select Relevant Market Competitors
• Design the Survey
• Interpret Survey Results and Construct a Market line
• From Policy to Practice: The Pay-Policy Line
CHAPTER 10 (Study unit 8)
Pay-for-Performance Plans
, Chapter Topics
• What Is a Pay-for-performance Plan?
• Does Variable Pay Improve Performance Results? The General Evidence
• Specific Pay-for-performance Plans: Short Term
• Team Incentive Plans: Types
• Explosive Interest in Long-term
Long term Incentives
, What Is Pay-for-Performance?
Pay for performance plans signal
a movementt away from
f
entitlements
Pay will vary with some measure
off individual,
i di id l team,
t or
organizational performance
, Overview: Pay-for-Performance Plans
• Types of plans
– Use
U off Different
Diff t Variable-
V i bl Pay-Plan
P Pl Types
T
– Base vs.
vs Variable Pay
• Increasing interest in variable pay
– Competition from foreign competitors
– Fast-paced business environment
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