Compensation And Benefit Chapter 1
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Compensation And Benefit Chapter 1

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    Compensation And Benefit Chapter 1 Compensation And Benefit Chapter 1 Presentation Transcript

    • Compensation And Benefit Chapter 1 A Component Of Human Resource Systems By: Hany E. Guirgis Feb 8, 2007
    • Agenda
      • What is Compensation?
      • Extrinsic Compensation
      • Compensation Professionals’ Goal.
      • Compensation Department Main Goal.
    • objectives
      • At the end of this lecture you will be:
      • Able to define Compensation
      • Generally understand the different types of extrinsic compensation.
      • Understand the main goals for Compensation Department.
    • Defining the Compensation Context
      • What is Compensation?
      • Compensation represents both the intrinsic and extrinsic rewards employees receive for performing their jobs.
    • Defining the Compensation Context (Cont’d)
      • Core compensation
      • Hourly wage
      • Annual salary
      • Adjustments to core compensation
      • Cost-of living
      • Seniority
      • Merit
      • Incentive
      • Person-focused
      Total Compensation Extrinsic Compensation Intrinsic Compensation
      • Legally Required Employee Benefits
      • Social Security Act
      • Workers compensation laws
      • Family & Medical leave Act
      • Discretionary Employee Benefits
      • Health insurance
      • Disability insurance
      • life insurance
      • retirement plans
      • paid time-off
      • Accommodation and enhancement
      • Job characteristics
      • Skill variety
      • Task identity
      • Task significance
      • Autonomy
      • Feedback
    • Extrinsic Compensation.
      • Core Compensation
        • Salaries (Monthly).
        • Wages (Hourly, Daily, or Weekly).
      • Cost-of-Leaving Adjustment (COLAs).
        • Consumer Price Index (CPI).
        • Seniority Pay.
        • Merit Pay.
        • Incentive Pay.
        • Person-focused Pay (Pay-for-Knowledge and Skill-Based Pay).
    • Extrinsic Compensation (Cont’d)
      • Employee Benefits:
        • Legally Required Benefits
          • Social Insurance
          • Sick leave.
        • Discretionary Benefits:
          • Health Insurance
          • Life Insurance.
          • Retirement Plans.
          • Paid time-off.
    • Compensation Professionals’ Goals
      • How HR Professionals fit into the corporate hierarchy. (Line employees and Staff employees).
        • Recruitment.
        • Performance appraisal.
        • Training and Development.
        • Employee Relations.
        • Employee Termination.
    • Compensation Professionals’ Goals (Cont’d)
      • How the Compensation Function fits into HR Department:
        • Compensation, Recruitment, and Selection.
        • Compensation and Performance Appraisal.
        • Compensation and Training.
        • Compensation and Employee Termination.
        • Compensation and Employee Relations.
    • Compensation Department Main Goal
      • Internal Consistency.
        • Job analysis.
        • Job evaluation.
      • Market Competitiveness.
        • Strategic analysis (External market and Internal factors).
        • Salary Surveys.
    • Q & A
    • Thank you