Flashcards
People Resourcing
Flashcards do conjunto (3)
- 1Old Pay (traditional reward) is characterised by bureaucratic salary administration, organisational hierarchy, rigid job evaluation and grading systems, incremental progression, the lack of horizontal integration with other HR activities and the detachment of pay from strategic objectives of the organisation. Primary concerns of old pay are fairness, consistency, equity and transparency.New pay (contemporary reward) is the aim to integrate pay with corporate strategy in order to achieve organisational objective and commercial imperatives. It uses pay and reward as a sophisticated lever to apply pressure to employee performance.
It seeks to reward individuals in line with managerial perceptions of their worth to the organisation and aims to integrate with HR strategies.
New pay looks at the connection between employee pay and employee performance, market related pay and benefits, broad-banded pay structure and flexible benefits. - 2Reward Management is concerned with the strategies, policies and processes required to ensure that the value of people and the contribution they make to achieving organisational, departmental and team goals is recognised and rewarded. Reward management is not just financial rewards, pay and employee benefit. It is equally concerned with non-financial rewards such as recognition, L&D opportunities and increased job responsibility.Aims of Strategic Reward Management:
- Support the achievement of business goals through high performance
- Develop and support the organisations culture
- Define what is important in terms of behaviours and outcomes
- Reward people according to the value they create
- Reward people according to what the organisation values
- Align reward practices with employee needs
- Help to attract and retain the high quality people the business needs
- Win the engagement of people - 3General ways to achieve these aims: - Fairness – ‘Felt fair’ principle (Jaques 1961). Pay systems will be fair if they are felt to be fair. Pay must match the level of work and capacity of the individual to do it. People should not receive less pay than they deserve, by comparison with their fellow workers. - Procedural Justice –The way in which reward policies are put into practice. Taylor and Bies (1990) recognise 5 factors that affect perceptions of procedural justice 1) The viewpoint of employees should be given full consideration 2) Personal bias towards employees is suppressed 3) Criteria for decisions are applied consistently to all employees 4) Employees are provided with early feedback about outcomes of decisions 5) Employees are provided with adequate explanation as to why decisions have been made- Distributive Justice – Leventhal (1980) says it is how rewards are provided to people. People will feel they have been treated ‘justly’ if the reward matches what they believe they have contributed.
- Equity – Achieved when people are rewarded appropriately in relation to others in the organisation. Equal Pay for equal work.
- Consistency – Decisions on pay do not vary between different people at different times, without due cause
- Transparency – People should understand how reward processes function and how they could be affected by them. Pay decisions should be explained at the time they are made
- Strategic Alignment – Ensures that reward initiatives are planned by reference to the requirements of the business strategy and are designed to support the achievement of business goals
- Contextual and Cultural Fit – They should be governed by the context and culture of the organisation (Strategy and values)
- Performance and Reward – Strategy, policy and practice create a high-performance culture. People are aware of the need to perform well and behave accordingly in order to reach or exceed expectations
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- People Resourcing FlashCards sobre People Resourcing, criado por jess.fenton em 21-05-2013.
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