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Chapter 05

Chapter 05. Reward Management. Reward Management. Aims of Reward Management. The Reward System Consists of Interrelated processes and practices that forms total rewards. The Reward System. Types of Pay. Determination of Pay. Determination of Pay.

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Chapter 05

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  1. Chapter 05 Reward Management

  2. Reward Management

  3. Aims of Reward Management

  4. The Reward SystemConsists of Interrelated processes and practices that forms total rewards

  5. The Reward System

  6. Types of Pay

  7. Determination of Pay

  8. Determination of Pay

  9. Job Evaluation Questionnaire (Point Factor Rating - Sample)

  10. Contingent Pay Schemes

  11. Motivation, Performance, and Pay

  12. Law of Individual Differences

  13. Employee Preferences for Noncash Incentives *The survey polled a random nationwide sample of 1,004 American adults. Among those polled, 851 were working or retired Americans, whose responses represent the percentage cited in this release. The survey was conducted June 4–7, 1999, by Wirthlin Worldwide. The margin of error is ±3.1%. Responses total less than 100 because 4% responded “something else”.

  14. Needs and Motivation1. Abraham Maslow’s Hierarchy of Needs

  15. Needs and Motivation2. Herzberg’s Hygiene–Motivator theory

  16. Needs and Motivation3. Edward Deci

  17. Instrumentality and Rewards4. Vroom’s Expectancy Theory

  18. Types of Incentive Plans • Pay-for-performance plans • Variable pay (organizational focus) • A team or group incentive plan that ties pay to some measure of the firm’s overall profitability. • Variable pay (individual focus) • Any plan that ties pay to individual productivity or profitability, usually as one-time lump payments.

  19. Types of Incentive Plans (cont’d) • Pay-for-performance plans • Individual incentive/recognition programs • Sales compensation programs • Team/group-based variable pay programs • Organizationwide incentive programs • Executive incentive compensation programs

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