Download Career Development - Human Resource - Lecture Slides and more Slides Human Resource Management in PDF only on Docsity! 9 33 Compensation and benefits Benefits of a fair, effective, and appropriate compensation system Helps attract and retain high-performance employees Impacts on the strategic performance of the firm Types of compensation Base wage or salary Wage and salary add-ons Incentive payments Skill-based pay 34 Factors that influence compensation and benefits Figure 11.8 35 Career development Career defined The sequence of positions held by a person during his or her lifetime. Career development Provides for information, assessment, and training Helps attract and retain highly talented people Boundaryless career A career in which individuals, not organisations, define career progression and organisational loyalty 36 Top 10 job factors for university graduates 1. Enjoying what they do 2. Opportunity to use skills and abilities 3. Opportunity for personal development 4. Feeling what they do matters 5. Benefits 6. Recognition for good performance 7. Friendly co-workers 8. Job location 9. Lots of money 10. Working on teams (ranked in order of importance) Source: Based on V. Frazee. “What’s Important to College Grads in Their First Jobs?” Personnel Journal, July 1996, p. 21. Docsity.com 10 37 Contemporary HRM issues Downsizing The planned elimination of jobs in an organisation Provide open and honest communication. Reassure survivors. Managing work force diversity Recruitment for diversity Selection without discrimination Orientation and training that is effective 38 Contemporary HRM issues (cont’d) Sexual harassment An unwanted activity of a sexual nature that affects an individual’s employment. Unwanted sexual advances, requests for sexual favors, and other verbal or physical conduct of a sexual nature when submission or rejection of this conduct explicitly or implicitly affects an individual’s employment. An offensive or hostile environment An environment in which a person is affected by elements of a sexual nature. 39 Contemporary HRM issues (cont’d) Work-life balance Employees have personal lives that they don’t leave behind when they come to work. organisations have become more attuned to their employees by offering family-friendly benefits: On-site child care Summer day camps Flextime Job sharing Leave for personal matters Flexible job hours 40 Tenure and Performance Kind of Business Unionisation Geographic Location Size of Company Management Philosophy Factors that Influence Compensation and Benefits Packages Type of Job Labor or Capital Intensive Company Profitability Compensation and benefits packages Docsity.com
