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8 Cards in this Set
- Front
- Back
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Why Compensation? |
- compensation decisions and practices should be designed to increase the likelihood that employees will behave in ways that help the organization to achieve its strategic objectives - pay and other rewards should encourage and reinforce desired behaviours |
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Employee Performance |
A = Abililty M = Motivation E = Environment |
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Performance Management |
- critical component of compensation and must be measured accurately - ensure that what is expected and what is measured is consistent with compensation practices |
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Organizational Responsibilities |
1. Recognize changing skill requirements (HR planning) 2. Select the right people (R&S) 3. Provide knowledge and skills to do job (T&D) 4. Have system to accurately assess performance (PMS) |
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Appraisal Process Errors |
- halo error - negative halo error - first impression error - recency error - leniency error - strictness error - central tendency error - similar-to-me error - spillover error |
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Performance Appraisal Formats |
Comparative - ranking - alternation ranking - paired comparison Behavioural - BARS Results / Outcomes - MBO - management by objectives |
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Performance Evaluation Process |
- performance dimensions should be relevant to the organization’s strategy - involve employees - train raters - motivate raters to rate accurately - raters should maintain diary - diagnose if issues are motivational, skill, or environmental |
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Merit Pay Grids |
3 Variables - level of performance - distribution of employees within pay ranges - merit budget increase percentage |
