Human Resource Management 13th Edition
Human Resource Management 13th Edition
Gary Dessler
Chapter 11 – Establishing Strategic Pay Plans
Employee Termination is includes all forms of pay or rewards going to employees and arising from their employment.
2 Main Components Of Employee Termination:
Direct Financial Payments – pay in the form of wages, salaries, incentives, commissions, and bonuses.
Indirect Financial Payments – pay in the form of financial benefits like employee-paid insurance and vacations.
There are 4 forms that managers should address The Equity Theory Of Motivation:
External Equity – how a job’s pay rate in 1 company compares to the job’s pay rate in other companies.
Internal Equity – how fair the job’s pay rate is when compared to other jobs within the same company.
Individual Equity – fairness of an individual’s pay as compared with what his or her coworkers are earning for the same or very similar jobs within the company, based on each individual’s performance.
Procedural Equity – perceived fairness of the processes and procedures used to make decisions regarding the allocation of pay.
Davis-Bacon Act (1931) is a law that sets wage rates for laborers employed by contractors working for the federal government.
Walsh-Healey Public Contract Act (1936) is a law that requires minimum wage and working conditions for employees working on any government contract amounting to more than $10.000.
Title VII Of The 1964 Civil Rights Act is this act makes it unlawful for employers to discriminate against any individual with respect to hiring, compensation, terms, conditions, or privileges of employment because of race, color, religion, sex, or national origin.
Fair Labor Standards Act (1938) is this act provides for minimum wages, maximum hours, overtime pay, and child labor protection. The law, amended many times, covers most employees.
Equal Pay Act (1963) is an amendment to the Fair Labor Standards Act, designed to require equal pay for women doing the same work as men.
Some
Gary Dessler
Chapter 11 – Establishing Strategic Pay Plans
Employee Termination is includes all forms of pay or rewards going to employees and arising from their employment.
2 Main Components Of Employee Termination:
Direct Financial Payments – pay in the form of wages, salaries, incentives, commissions, and bonuses.
Indirect Financial Payments – pay in the form of financial benefits like employee-paid insurance and vacations.
There are 4 forms that managers should address The Equity Theory Of Motivation:
External Equity – how a job’s pay rate in 1 company compares to the job’s pay rate in other companies.
Internal Equity – how fair the job’s pay rate is when compared to other jobs within the same company.
Individual Equity – fairness of an individual’s pay as compared with what his or her coworkers are earning for the same or very similar jobs within the company, based on each individual’s performance.
Procedural Equity – perceived fairness of the processes and procedures used to make decisions regarding the allocation of pay.
Davis-Bacon Act (1931) is a law that sets wage rates for laborers employed by contractors working for the federal government.
Walsh-Healey Public Contract Act (1936) is a law that requires minimum wage and working conditions for employees working on any government contract amounting to more than $10.000.
Title VII Of The 1964 Civil Rights Act is this act makes it unlawful for employers to discriminate against any individual with respect to hiring, compensation, terms, conditions, or privileges of employment because of race, color, religion, sex, or national origin.
Fair Labor Standards Act (1938) is this act provides for minimum wages, maximum hours, overtime pay, and child labor protection. The law, amended many times, covers most employees.
Equal Pay Act (1963) is an amendment to the Fair Labor Standards Act, designed to require equal pay for women doing the same work as men.
Some