6.3 Types of Pay Systems Learning Objectives Explain types of job evaluation systems and their uses. Be able to define and discuss the types of pay systems and factors determining the type of pay system used. Know the laws relating to compensation. Once you have determined your compensation strategy based on internal and external factors, you will need to evaluate jobs, develop a pay system, and consider pay theories when… Read More »Types of Pay Systems

6.2 Developing a Compensation Package Learning Objectives Be able to explain the internal and external considerations of compensation package development. Know how to develop a compensation philosophy. There are a few basic aspects of compensation packages we should discuss before moving into the specific aspects of compensation. These foundations can assist in the development of a compensation strategy that meets the goals of your organization and is in line with… Read More »Developing a Compensation Package

6.1 Goals of a Compensation Plan Learning Objective Be able to explain the goals of a compensation plan. So far, we have discussed the process for strategic plan development and the recruitment and selection process. The next aspect of HRM is to develop compensation plans that will help in the recruitment and retention of employees. This is the topic of this chapter. Figure 6.1 The goal of a compensation plan… Read More »Goals of a Compensation Plan

Chapter 6: Compensation and Benefits Matching Compensation with Core Values As you sit down to review the compensation package your company offers, one thing that stands out is that your compensation package no longer matches the core values of your organization. When your organization merged five years ago with a similar firm that specializes in online shoe retailing, your company had to hire hundreds of people to keep up with… Read More »Compensation and Benefits

5.6 Cases and Problems Chapter Summary The selection process refers to the steps involved in choosing someone who has the right qualifications to fill a current or future job opening. There are five main steps in the selection process. First, criteria should be developed to determine how the person will be chosen. Second, a review of the applications and résumés is conducted, often via a computer program that can find keywords. Next,… Read More »Cases and Problems

5.5 Making the Offer Learning Objective Explain the steps in making the offer to the candidate. Oftentimes once the decision is made to hire a candidate, HR professionals feel their job is finished. But making the offer to the chosen candidate can be equally as important as the interview process. If the offer is not handled properly, you can lose the candidate, or if the candidates takes the job, he… Read More »Making the Offer

5.4 Testing and Selecting Learning Objectives Explain the types of tests that can be administered as part of the selection process. Be able to discuss the types of selection models. Besides the interview, we can also look at several other aspects that may predict success on the job. If any test is to be criteria for measuring a candidate, this should be communicated to each person interviewing, and criteria should… Read More »Testing and Selecting

5.3 Interviewing Learning Objectives Explain the various types of interviews and interview questions. Discuss interview methods and potential mistakes in interviewing candidates. Explain the interview process. Interviewing people costs money. As a result, after candidates are selected, good use of time is critical to making sure the interview process allows for selection of the right candidate. In an unstructured interview, questions are changed to match the specific applicant; for example, questions… Read More »Interviewing

5.2 Criteria Development and Résumé Review Learning Objectives Be able to explain why criteria development is an important part of the selection process. Give examples of types of criteria that can be developed. Describe the advantages and disadvantages of internal and external candidates. Before we begin to review résumés and applications, we must have a clear idea of the person we want to hire for the position. Obviously, the job… Read More »Criteria Development and Résumé Review

5.1 The Selection Process Learning Objective Be able to name and discuss the steps in the selection process. Once you have developed your recruitment plan, recruited people, and now have plenty of people to choose from, you can begin the selection process. The selection process refers to the steps involved in choosing people who have the right qualifications to fill a current or future job opening. Usually, managers and supervisors will be… Read More »The Selection Process