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CHAPTER 1 - THE PAY MODEL (Perspective of Compensation (Stockholders'…
CHAPTER 1
- THE PAY MODEL
Perspective of Compensation
Stockholders' views
Manager's view
Society's view
Employees' views
3 Basic Building Blocks
Four policies
Pay techniques
Compensation objectives
Effects of Pay on Employees' Behavior
Incentives effect
Sorting effect
Forms of Pay
Total Compensation
Cash compensation
Merit/ Cost of Living Allowances
Short-Term Incentives
Base
Long-Term Incentives
Benefits
Allowances
Work Life Balance
Income Protection
Relation Returns
Employment Security
Learning Opportunities
Recognition & Status
Challenging Work