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Topic 9: Establishing Strategic Pay Plans & Pay for Performance and…
Topic 9: Establishing Strategic Pay Plans & Pay for Performance and Financial Incentives
Employee Compensation
Direct financial payments
Examples:
Indirect financial payments
Examples:
Equity Theory of Motivation
Definition:
Types (4)
Types of pay policies
Other
Job Evaluation Methods
Market-base
Job Evaluation
Preparation
Job evaluation methods
Compensable factors
Pricing Managerial and Professional Jobs
Difference between
Traditional Pay
Competency-based
5 elements
Individual Employee Incentive
Piecework plans
Types
Pros & Cons
Merit Pay
Professional employees
Dual-career ladders
Non-financial & recognition-base awards
Incentives for salespeople
Incentives for managers & executives
Types
Factors or Determinants
Golden parachutes
Team and Organisation-wide Incentives Plans