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HRM3705 SU8

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2021/2022 Written for academic year
Institution University Of South Africa (Unisa)
Course HRM3705 - Compensation Management (HRM3705)
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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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