Strategic Reward Systems I
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The document discusses various reward systems and theories related to compensation. It covers the key elements of reward systems including base salary, incentives, and benefits. It also discusses equity theory, agency theory, tournament theory, and controversies surrounding pay for performance plans. Some suggestions are provided for more effective pay for performance plans including loosely coupling pay and performance and designing plans to fit each firm's unique situation.
![Strategic Reward Systems I: Pay for Performance ,[object Object],[object Object],[object Object],[object Object],Reward Systems consist of the following elements: Reward Systems consist of the following elements: Non-financial Rewards 1. Intrinsic Rewards – centers on the work itself 2. Praise, recognition, time off and other rewards given to the employee by peers or superiors.](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
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Strategic Reward Systems I
- 1. Strategic Reward Systems I HR Management MBAO 6030
- 4. Strategic Reward Systems I: Need for Consistency with Other HR Systems Culture Performance Management Employment Training Labor Relations Rewards Overtime pay rules in contract Sign-on Bonus Merit Pay Merit pay reinforces performance culture Skill-based pay