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CHAPTER 18 - Management: Making It Work (Managing Labor Costs (Embedded…
CHAPTER 18
- Management: Making It Work
Managing Labor Costs
Average cash compenstion
Budget controls: Top down
Turnover effects
Cost of living
Competitive market pressures
Ability to pay
Current year's rise
Benefits
Embedded (Design) controls
Promotions and external versus internal hires
Compa-ratios
Broad bands
Variable pay
Analyzing costs
Range maximums and minimums
Hours
Budget Controls: Bottom Up
Number of employees
Reduce headcount
Managing Revenues
Using compensation to retain (and recruit) top employeres
Managing pay to support strategy and change
The Compensation Communication Cycle
Choose communication tools and media
Conduct the communication sessions with employees
Collect information and identify the facts
Evaluate the success of the communication program
Define objectives of the employee communication program
Structuring the Compensation Function and Its Role
Centralization-Decentralization(and/or Outsourcing)
Reengineering and Outsourcing
Balancing Flexibility and Control
Flexibility within Corporatewide Principles
Making Information Useful- Compensation Enterprise Systems
Ethics: Managing or Manipulating?