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    Chp. 11

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    This document discusses reward management. It defines reward and outlines the key components of a reward package, including direct monetary rewards, indirect monetary rewards, and psychological satisfactions. It also examines the determinants that influence reward plans, such as the labor market, organizational ability to pay, cost of living, productivity, bargaining power, and legislation. The document outlines the process of developing a reward program, including job analysis, job pricing, and reward communication. Finally, it reviews trends in reward development, such as changing external factors and the major trends of individualization, globalization, and performance-based pay.

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    Chp. 11

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    xuwenkai1226
    7 views14 pages
    This document discusses reward management. It defines reward and outlines the key components of a reward package, including direct monetary rewards, indirect monetary rewards, and psychological satisfactions. It also examines the determinants that influence reward plans, such as the labor market, organizational ability to pay, cost of living, productivity, bargaining power, and legislation. The document outlines the process of developing a reward program, including job analysis, job pricing, and reward communication. Finally, it reviews trends in reward development, such as changing external factors and the major trends of individualization, globalization, and performance-based pay.

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    This document discusses reward management. It defines reward and outlines the key components of a reward package, including direct monetary rewards, indirect monetary rewards, and psychological satisfactions. It also examines the determinants that influence reward plans, such as the labor market, organizational ability to pay, cost of living, productivity, bargaining power, and legislation. The document outlines the process of developing a reward program, including job analysis, job pricing, and reward communication. Finally, it reviews trends in reward development, such as changing external factors and the major trends of individualization, globalization, and performance-based pay.

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    Download as pptx, pdf, or txt
    7 views14 pages

    Chp. 11

    Uploaded by

    xuwenkai1226
    This document discusses reward management. It defines reward and outlines the key components of a reward package, including direct monetary rewards, indirect monetary rewards, and psychological satisfactions. It also examines the determinants that influence reward plans, such as the labor market, organizational ability to pay, cost of living, productivity, bargaining power, and legislation. The document outlines the process of developing a reward program, including job analysis, job pricing, and reward communication. Finally, it reviews trends in reward development, such as changing external factors and the major trends of individualization, globalization, and performance-based pay.

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    Unit 11

    Reward Management
    Warm up
     Online research:
    • Search the Internet and find out people’s common
    complaints about compensation schemes.
     Discussion:
    • Which ones do you think are legitimate complaints
    and which ones are not? Personally, what do you
    want from a job?
    In this unit, we will discuss:
    Definition of reward

    Reward philosophy

    Reward components

    Reward determinants

    Reward structure

    Reward trends
    Definition
    • What is reward?
    • In addition to satisfying employees’ basic needs,
    what are some other positive outcomes of a
    successful reward package?
    • What are the criteria of a good reward policy? Of all
    these criteria, which ones do you think are the most
    important?
    Reward philosophy
     Entitlement vs. performance
    • Why are they so named? (Who are entitled to what?
    Or whose performance in what?)
    • What are their manifestations in actual reward
    programs?
    • In what ways are they “opposite ends of a
    continuum”? Do you also see them as direct
    opposites?
    Reward components
    • What are the three components of reward programs?
    • What do direct monetary rewards include? What is
    the average salary level in your region?
    • What do indirect monetary rewards include? What are
    the most common ones in your parents’ work place?
    • What are psychological satisfactions? Are they as
    important as the previous two components?
    Reward determinants I
    • What is the labor market? In what ways can it affect
    reward plans? Do you know the market rate for
    graduates of your major?
    • What decides the organizations’ ability to pay? How
    will that ability affect reward plans?
    • What is the cost of living? How will that cost affect
    reward plans? What do you think is the living cost in
    your city? Your hometown? Beijing or Shanghai?
    Reward determinants II
    • What is productivity? Whose productivity are we
    dealing with here?
    • What is bargaining power? Do you think it relevant to
    the Chinese context?
    • What is job requirement? In what ways can that affect
    reward plans? Give some examples.
    Reward determinants III
    • What is worker competencies? What’s its difference
    with workers’ productivity?
    • What is managerial attitude? How do managers’
    feelings about reward affect the reward they offer to
    employees?
    • What kind of legislation is referred to here? In what
    ways can that affect reward plans? Can you cite some
    examples in China?
    Reward program frame I
    grouping
    job analysis
    similar jobs

    job pricing

    Comp.
    Can you fill in the
    admin. missing links?
    Reward program frame II
    • Can you tell the difference between job analysis and
    job description?
    • What is job pricing? What’s its purpose? (To sell
    employees on the labor market?)
    • Why should there also be reward communication?
    Reward trends
    • What are the changing external factors that force
    reward plans to change as well?
    • What are the three major trends in reward
    development? Explain each of them, preferably with
    examples. Which ones do you think have been
    realized nowadays?
    Summary and reinforcement
    In this unit, we have
    • discussed the definition of reward
    • introduced the philosophy and components of reward plans
    • analyzed major determinants of reward plans
    • discussed steps in reward plan development
    • reviewed new trends in reward development
    After class, you may
    • design a reward plan for an imagined company and test its
    feasibility with your classmates.
    Thank you!

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