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Situación problema 3, Importance of organizations recognizing group…

- - - - 12-4 Describe how employees evaluate the fairness of a pay structure.
        
        According to equity theory, employees think of their pay relative to their inputs, such as training, experience, and effort. To decide whether their pay is equitable, they compare their outcome (pay)/input ratio with other people's outcome/input ratios.
        
        • Employees make these comparisons with people doing the same job in other organizations and with people doing the same or different jobs in the same organization.
        
        • If employees conclude that their outcome/input ratio is less than the comparison person's, they conclude that their pay is unfair and may engage in behaviors to create a situation they think is fair.
      - 12-5 Explain how organizations design pay structures related to jobs.
        
        • Organizations typically begin with a job evaluation to measure the relative worth of their jobs. A job evaluation committee identifies each job's compensable factors and rates each factor.
        
        • The committee may use a point manual to assign an appropriate number of points to each job.
        
        • The committee can research market pay levels for key jobs and then identify appropriate rates of pay for other jobs based on their number of points relative to the key jobs. The organization can do this with a pay policy line, which plots a salary for each job.
        
        • The organization can combine jobs into several groups, called pay grades.
        
        • For each pay grade or job, the organization typically establishes a pay range, using the market rate or pay policy line as the midpoint.
        
        • Differences in working conditions or labor markets sometimes call for the use of pay differentials to adjust pay levels.
    - - They also must establish pay levels, or the average paid for the different jobs. These decisions are based on the organization's goals, market data, legal requirements, and principles of fairness.
    - - To meet the standard of equal employment opportunity, employers must provide equal pay for equal work, regardless of an employee's
        age, race, sex, or other protected status. Differences in pay must relate to factors such as a person's qualifications or market levels of pay.
        
        Under the Fair Labor Standards Act (FLSA), the employer must pay at least the minimum wage established by law. Some state and local
        
        governments have established higher minimum wages.
        
        • The FLSA also requires overtime pay-at one and a half times the employee's regular pay rate, including bonuses-for hours worked
        
        beyond 40 in each week. Managers, professionals, and outside salespersons are exempt from the overtime pay requirement.
    - - To remain competitive, employers must meet the demands of product and labor markets.
        
        • Product markets seek to buy at the lowest price, so organizations must limit their costs as much as possible. In this way, product markets place an upper limit on the pay an employer can afford to offer.
        
        • Labor markets consist of workers who want to earn as much as possible. To attract and keep workers, employers must pay at least the
        
        • Organizations make decisions about whether to pay at, above, or below the pay rate set by these market forces.
        
        • Paying above the market rate may make the organization less competitive in product markets but give it an advantage in labor markets.
        
        • Organizations that pay below the market rate need creative practices for recruiting and training workers so that they can find and keep
- - - - Employers provide benefits because employees value them, and many benefits are required by law.
      - Employees expect at least a minimum level of benefits