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Pay and Benefits

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Winston Altura

on 25 August 2017

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Transcript of Pay and Benefits

Pay and Benefits
Jorge Winston Altura
Job Analysis
is the process by which each employee's position is analyzed to determine what skills are required to perform the job
entails the collection of job-related information by observing & interacting with employees as they carry out required duties and tasks.
assesses the content of the employees position and the conditions under which such duties are undertaken.
Job Analysis and Human Resource Activities
Job Descriptions
Compensation
Workforce Planning
Recruitment
Selection
Training and Development
Performance Appraisal
Establishes job duties and responsibilities.

Establishes the critical job-related knowledge, skills, abilities and other characteristics (KSAOs) necessary for job performance.
Maintains internal and external consistency in pay rates.

Uses labor market analysis tools, such as wage and salary surveys, to systematically establish compensation for similar jobs.
Delineates relevant job qualifications that define future workforce needs.
Assists in strategic planning efforts.
Identifies KSAOs necessary for organizational performance.
Identifies critical KSAOs of open and future positions.
Assists in differentiating potential applicants based on requisite KSAOs.
Validates job- relatedness of selection procedures for legal purposes.
Provides feedback to the process of establishing competitive pay, mitigating legal concerns about internal and external pay equity
Identifies job-related KSAOs necessary for organizational performance.
Identifies training and development needs and delivery methods for new and veteran employees.
Establishes the KSAOs necessary for job performance as a basis for performance evaluation.
Establishes performance standards
Identifies performance criteria for determining the transfer, demotion, or termination of poor-performing employees and the promotion and reward of exceptional employees.
Methods to Maintain Internal
and External consistency
in pay structures
Traditional Classification Systems and Internal Consistency
offers the most reliable scheme for ensuring internal consistency among agency employees
Point-Factor Method
technique that offers enhanced rigor and sophistication.
uses a predetermined set of factors to evaluate each job.
Alternative Compensation
systems
transparent
less costly
less time consuming
Performance-Based Pay
is a salary or wages paid system based on positioning the individual, or team, on their pay band according to how well they perform.
Expectancy Theory
proposes that employees will exert additional effort in exchange for monetary reward.
Reinforcement Theory
supports the idea that performance-based pay is a behavior-reinforcing mechanism to improve performance.
Broadbanding
collapses multiple traditional pay grades into a single but broader band, giving managers greater flexibility over pay rates in hiring promotion.
Contemporary Benefits in Public Sector
Legal Entitlements
Discretion Benefits
Retirement Plans
Health and Medical Benefits
Additional Offerings
benefits that an employer is obligated to offer by law.
Social Security
Worker's Compensation
Unemployment Compensation
benefits that are not mandated by law
retirement and savings options
health care plans
Two types of Retirement Plan:
Defined Benefit
Defined Contribution
Defined Benefit Plan
an employee's pension payments are calculated according to length of service and the salary they earned at the time of retirement.
Defined Contribution Plan
is a type of retirement plan in which the employer, employee or both make contributions on a regular basis.
The most common type of defined contribution plan is a savings and thrift plan. Under this type of plan, the employee contributes a predetermined portion of his or her earnings (usually pretax) to an individual account, all or part of which is matched by the employer.
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