Premium Essay

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In: Business and Management

Submitted By luciemarchand
Words 6187
Pages 25
Class 7

Compensating Employees Fairly

Three basic principles to make decisions concerning salary * Internal job consistency: compensation must reflect the of a job compared to other jobs wthin the organization, in terms of required qualifications, responsabilities, effort and working conditions * External salary competitiveness: salaries a company offers must be comparable to those offered by its competitors * Employee motivation and mobilization: compensation must be motivating in order to encourage performance and loyalty

Manager’s Role: * To understand compensation principles * To possess adequate knowledge of the positions managed * To ensure equity, an important factor in compensation decisions Objectives of compensation * As a major HR tool, compensation aims: * To attract * To motivate * To retain employees

Building a compensation Program
Legal Context

Canadian Charter of Rights and Freedoms
Canadian Charter of Rights and Freedoms
Pay Equity Act to correct salary differences caused by systemic discrimination
Pay Equity Act to correct salary differences caused by systemic discrimination
Labour standards act

Labour standards act

Labour standards act

Labour standards act

* Canadian Charter of Rights and Freedom Employee A<-> Equal salary for equal or equivalent work <-> employee B * Pay equity Act (for organizations with more than 50 employees)

Employee with job position predominantly held by women (at least 60% of jobholders are women) <-> equal salary for equivalent work <->employee with job position predominately held by men (at least 60% of jobholders are men) Types of equity Quality of work climate depends on several factors that often have a little to do with compensation. *...

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