Establishing Pay Plans

Topics: Wage, Employment compensation, Salary Pages: 18 (4423 words) Published: January 19, 2013
PART FOUR COMPENSATION | | | | | | |CHAPTER | |T Eleven | | | | | | | | | |Establishing |11 | | |Strategic Pay Plans | | | |Lecture Outline | | | |Strategic Overview |In Brief: This chapter covers the basics of compensation.| | |Determining Pay Rates |Included are basic considerations in determining pay | | |Corporate Policies and Competitive Strategy |rates, establishing pay rates, current trends in | | |Equity and Its Impact on Pay Rates |compensation, pricing managerial and professional jobs, | | |Establishing Pay Rates |and current issues in compensation management. | | |Step 1. The Salary Survey | | | |Step 2. Job Evaluation |Interesting Issues: This chapter lists and discusses many| | |Step 3. Group Similar Jobs into Pay Grades |current and controversial issues in compensation | | |Step 4. Price Each Pay Grade—Wage Curves |management. You may want to incorporate a discussion of | | |Step 5. Fine-Tune Pay Rates |the current issues described in the chapter. | | |Pricing Managerial and Professional Jobs | | | |Compensating Managers | | | |Compensating Professional Employees | | | |Competency-Based Pay | | | |What is Competency-Based Pay? | | | |Why Use Competency-Based Pay? | | | |Competency-Based Pay in Practice | | | |Competency-Based Pay: Pros, Cons, and Results | | | |Other Compensation Trends | | | |Broadbanding | | | |Strategic Compensation |...
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