Strategic Compensation in Canada, 7e
Parbudyal Singh, Richard Long) Test
Bank
me of the purposes of compensations systems
Help the organization achieve its strategy and objectives, Help to attract,
retain, and motivate employees.
For employees, influences their standard of living
For Shareholders, the financial value of the pay system to the
organization's bottom line.
Undesireable consecuences of poorly designes compensation system
Individual can start to do unspeakable things to achieve goals for better
compensation. it has powerful effects on behaviour.
The ____ complex the behaviour and the _____ level of performance
required, the _____ complex the compensation system needs to be.
, more, more, more.
Precondition to successful compensation design
Understanding why the same compensation system that is successful in
one firms fails at another firm.
% of operating budget spent by Canadian Organizations in compensating
their employees
40% - 70%
One of the most powerful tools to an employer for shaping employee
behaviour and influencing company performance
Compensation System
What can cause new strategies to falter, new organizational structures to
collapse new technologies to malfunction and entire companies to
founder
Failure to adapt reward systems to changing circumstances
Why would a firm might never identify their reward system as a major
ocntirbutor to problems
Sometimes the impact in behaviour is very subtle
Purpose of a Compensation System
To help create a willingness among qualified persons to join the
organization and to perform the tasks needed by the organization. At the
same time employees should perceive accepting the job will help them
satisfy their needs. (economic, security, social interaction, status,
achievement, recognition, and growth and development)
Parbudyal Singh, Richard Long) Test
Bank
me of the purposes of compensations systems
Help the organization achieve its strategy and objectives, Help to attract,
retain, and motivate employees.
For employees, influences their standard of living
For Shareholders, the financial value of the pay system to the
organization's bottom line.
Undesireable consecuences of poorly designes compensation system
Individual can start to do unspeakable things to achieve goals for better
compensation. it has powerful effects on behaviour.
The ____ complex the behaviour and the _____ level of performance
required, the _____ complex the compensation system needs to be.
, more, more, more.
Precondition to successful compensation design
Understanding why the same compensation system that is successful in
one firms fails at another firm.
% of operating budget spent by Canadian Organizations in compensating
their employees
40% - 70%
One of the most powerful tools to an employer for shaping employee
behaviour and influencing company performance
Compensation System
What can cause new strategies to falter, new organizational structures to
collapse new technologies to malfunction and entire companies to
founder
Failure to adapt reward systems to changing circumstances
Why would a firm might never identify their reward system as a major
ocntirbutor to problems
Sometimes the impact in behaviour is very subtle
Purpose of a Compensation System
To help create a willingness among qualified persons to join the
organization and to perform the tasks needed by the organization. At the
same time employees should perceive accepting the job will help them
satisfy their needs. (economic, security, social interaction, status,
achievement, recognition, and growth and development)
