Compa-Ratio
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The ratio of average pay to the midpoint of the pay range.
-If the average equals the midpoint, CR is 1.
-If CR is greater than 1, the average pay is above the midpoint.
- IF CR is less than 1, the average pay is below the midpoint.
Development
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, >Future Focus
>High use of work experiences
>Goal is preparation for changes
>Voluntary Participation
Contributory Plan
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Retirement plan funded by contributions from the employer and employee.
Contrast Errors
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The rater compares an individual, not against an objective standard, but
against other employees.
Delayering
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Reducing the number of levels in the organization's job structure.
-More assignments are combined into a single layer.
-These broader groupings are called broad bands.
-More emphasis on acquiring experience, rather than promotions.
, Types of Pay for Organizational Performance
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-Profit Sharing
>Incentive pay in which payments are a percentage of the organization's
profits and do not become part of the employees' base salary.
-Stock Ownership
Interactional Justice
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A judgment that the organization carried out its actions in a way that took
the employee's feelings into account.
Pay Grades
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Sets of jobs having similar worth or content, grouped together to establish
rates of pay.
Incentive Pay
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Give this one a try later!
The ratio of average pay to the midpoint of the pay range.
-If the average equals the midpoint, CR is 1.
-If CR is greater than 1, the average pay is above the midpoint.
- IF CR is less than 1, the average pay is below the midpoint.
Development
Give this one a try later!
, >Future Focus
>High use of work experiences
>Goal is preparation for changes
>Voluntary Participation
Contributory Plan
Give this one a try later!
Retirement plan funded by contributions from the employer and employee.
Contrast Errors
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The rater compares an individual, not against an objective standard, but
against other employees.
Delayering
Give this one a try later!
Reducing the number of levels in the organization's job structure.
-More assignments are combined into a single layer.
-These broader groupings are called broad bands.
-More emphasis on acquiring experience, rather than promotions.
, Types of Pay for Organizational Performance
Give this one a try later!
-Profit Sharing
>Incentive pay in which payments are a percentage of the organization's
profits and do not become part of the employees' base salary.
-Stock Ownership
Interactional Justice
Give this one a try later!
A judgment that the organization carried out its actions in a way that took
the employee's feelings into account.
Pay Grades
Give this one a try later!
Sets of jobs having similar worth or content, grouped together to establish
rates of pay.
Incentive Pay
Give this one a try later!
