compensation薪酬福利管理.pptxVIP

Framework for the Strategic Management of EmployeesStrategic Purposes of compensation Attract (the right sort of) people to work for firmRetain (the right sort of) people to work for firmControl Costs and Maintain a budgetMotivate exceptional performance Reward employees for past performanceReduce unnecessary turnoverMaintain salary equity among employees Also - Reinforces (or conflicts with) the attitudes and behaviors encouraged with the performance management system. What is Compensation?To counterbalanceTo make up forTo offset(inducements) in exchange for employee contributions.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…Total Compensationin exchange for workTotal CompensationRelational FormsRecognition / StatusJob securityChallenging WorkLearning OpportunitiesPersonal SatisfactionGood CultureIndirect: Benefits and ServicesDirect: CashBase PayIncentives Merit / Cost of Living Short Term bonus Long term bonusServices AllowancesTime away from workEquity theoryOutcome (self) Outcome (other) Inputs (self), , or = Inputs (other)O/I (self) other Better performance, feel valued, rationalization to account for overpaymentO/I (self) other restore equity, seek to increase outcomes, lower inputsComparisons may be with (a) people inside the firm, (b) outside the firm, or (c) self (what it should be).Consequences of inequityIncrease 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.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.Distort reality by rationalizing that the inequities are justified.Leave the situation in inequities cannot be resolved. Internal Alignment Occurs when ea