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CHAPTER 11: Pay Structure Decisions - Coggle Diagram
CHAPTER 11: Pay Structure Decisions
Introduction
Pay Level
The average pay (including wages,
salaries, and bonuses) of jobs in an organization.
Job Structure
The relative pay of jobs in an
organization.
Pay Structure
The relative pay of different jobs (job structure) and how much they are paid (pay level).
Equity Theory and Fairness
Developing Pay Levels
DEVELOPING A JOB STRUCTURE
Job Evaluation
The Point-Factor System
DEVELOPING A PAY STRUCTURE
MARKET PAY SURVEYS
Rate Ranges
Key Jobs
Benchmarking
Nonkey Jobs
MARKET SURVEY DATA
Pay Policy Line
Pay Grades
DECIDING WHAT TO PAY
efficiency wage theory
CONFLICTS BETWEEN MARKET PAY SURVEYS AND JOB EVALUATION
EMPLOYEES AS A RESOURCE
MONITORING COMPENSATION COSTS
MARKET PRESSURES
Product Market Competition
Labor Market Competition
GLOBALIZATION, GEOGRAPHIC REGION, AND PAY STRUCTURES
The Importance of Process:
Participation and Communication
PARTICIPATION
COMMUNICATION
Challenges
RESPONSES TO PROBLEMS WITH JOB-BASED PAY STRUCTURES
Delayering and Banding
Paying the Person: Pay for Skill, Knowledge, and Competency
CAN THE U.S. LABOR FORCE COMPETE?
Skill Levels
Productivity
Instability of Country Differences in Labor Costs
Considerations Other Than Labor Cost
PROBLEMS WITH JOB-BASED PAY STRUCTURES
EXECUTIVE PAY
Government Regulation of
Employee Compensation
MINIMUM WAGE, OVERTIME, AND PREVAILING WAGE LAWS
EQUAL EMPLOYMENT OPPORTUNITY