Week Two Study Guide: Compensation and Benefits Strategies

Readings and Key Terms

Ch. 11 of Managing Human Resources

Organizational reward systems

Determinants of pay structure and level

Federal labor laws

Pay planning

Performance incentives

Ch. 12

Benefit programs

Income-maintenance laws

Total compensation

Benefits strategies

Costs and cost containment

Content Overview

Components and objectives of organizational reward systems

Financial rewards

Direct payments (salaries)

Indirect payments (benefits)

Nonfinancial rewards

Protection programs

Employee involvement programs in decision making

Effective supervision

Recognition

Training opportunities

Supportive and nurturing organizational culture

Determinants of pay structure and level

Labor market conditions

A labor market...