Documentos de Académico
Documentos de Profesional
Documentos de Cultura
Contributions
Merit Seniority Performan ce based Guidelines based Incentive program Cost Communication Change Evaluation
Management
Compliance
Compensation objectives
Efficiency: Improving performance , increasing quality ,delighting customers and stockholders and controlling labor cost. Equity: Fair treatment for all employees Compliance :Conforming to the various central and state wage legislations and regulation
Compensation Policies
Internal consistency: It refers to comparison among jobs or skills level inside a single organization. External competitiveness: Pay comparison with the competitors (How much and What mix) or market driven. Employee contribution: Paying for performance as it effects employee attitude and work behaviour. Management :What impact does it make on the organizational objectives.
Compensation Techniques
Internal structure: Work analysis ,Job description ,Evaluation/certification Pay structure :Market definitions ,Surveys , Policy lines Incentive programs: Senority based , Performance based and merit guidelines Evaluation :Cost ,communication ,change
Strategic Choices
A strategic perspective focuses on those compensation choices that help the organization gain and sustain competitive advantage. The difference in the firms business strategy should be supported by corresponding difference in its human resource strategy ,including compensation
Strategic Choices
What business should be in? How do we win or gain competitive advantage Corporate objectives , vision, values
Business strategies
Hr strategies Social ,competitive and regulatory env Social compensation decisions Compensation systems Employee attitude and behaviors Competitive advantage
How should HR help us win? How should total compensation help us win ?
Business response
Product leadership Mass customization Cycle time
HR program alignment
Committed to agile , risk taking ,innovative people
Compensation system
Reward innovation Market based pay Flexible job description
Cost cutter
Focus on competitors labor cost Increase variable pay Emphasize Productivity Focus on system control &work specifications
Customer focused
Customer satisfaction incentives Value of job and skills based on customer contacts
Strategic objectives
Objectives :How should compensation support the business strategy and be adaptive to cultural and regulatory pressure in global environment? Internal Alignment :How differently should the different types and levels of skills and work be paid within the organization? External competitiveness: How should total compensation be positioned against competitors? Employee contributors : Should pay increase be based on individual or team performance ,on experience or on improved skills ,on change in cost of living or on personal needs? Management: How transparent and open should the pay decisions be to all employees? Who should be involved in designing and managing the system?
Competitiveness
Implement strategy Design system Choose techniques Contribution Management
Cont
2.
Map a total compensation strategy: Objectives: Prominence-Catalyst ,playing a lead role or supportive. Internal Alignment: Flexible design, Hierarchy , Career growth. Competitiveness: How much ,what form ,work life balance. Employee contribution: Incentive to base , individual ,share group success. Management :Line ownership ,transparency , technology ,choice.
Cont..
3.
Implement strategy : Design system to translate strategy into action Choose techniques to fit strategy
Cont
4.
Align Align with business strategy Align externally with economic and sociopolitical condition Align internally with overall HR strategy
Cont..
2. 3.