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CompensationManagement:ToolsandTechniquesLeeKokWaiLectures4and5Day-to-DayOperationalFocusFuture/StrategicFocusPeopleProcessesStrategicHRPlanningHRasBusinessPartnerCultureandImageStrategicPartnerStaffingOrganizationalDesignSuccessionPlanningPerformanceMeasurementTraining&DevelopmentEmployeeRelationsLaborRelationsEnvironment,Health,Safety&SecurityVOWSurveyActionPlanCompensationBenefitsHRInformationSystemsComplianceAdministrativeExpertEmployeeRelationsExpertChangeAgentHR’s4Roles&KeyAccountabilitiesManagingHumanResourcesinCOMPAQCompensationMgt.•T-Compphilosophy&design•T-Compplanning&admin.•Incentiveplans(MIPs/LTB)•Profit-sharingscheme•Reward&recognitionprog.•Expatriatemgt.ManpowerMgt.•Headcountmanagement•Recruitmentstrategies•Sourcesoflaborsupply•Selectionprocess&tools•Retentionstrategies&plans•Staffdeployment•StafforientationEmployeeRelationsMgt.•Benefitsadministration•Codeofconductðics•Employeediscipline•Employeecommunications•Staffsocial,sports&recreation•Communityservices&relationsEHS&SMgt.•Environmentmgt.•Employeewellness•Employeehealthservices•Lossprevention•Assetmanagement•Safetymgt.Culture/ValuesMgt.•Corporatevision•Corporatemission•Culturebuilding•Teambuilding•HabitsbuildingPerformanceMgt.(HRD)•Stafftraining&development•Successionplanning•Careerplanning•Coaching&counseling•Appraisalreview/ranking•Organizationdevelopment•LeadershipdevelopmentHumanResourceAdmin.•Records&informationmgt.•Personnelresearch•HRpolicyreview•HRprocessimprovements•HRperformancestds&audit•Legalcompliance•DocumentcontrolStrategicComponentsofHumanResourcesCOMPENSATIONMANAGEMENTWebelieveinpayingcompetitivewagesthatcommensuratewithjobsizeandindividualperformanceWELFAREMANAGEMENTWebelieveinbeingafirm,fairandcaringemployer.Westrivetomakeemployeesvaluetheirjobsandwanttoremainintheorganizationbasedontheirabilitiestocontributeandgrow.PERFORMANCEMANAGEMENTWebelieveinequippingemployeeswiththenecessaryskillstodoagoodjob,providingthemwiththetools,theenvironment,thesupportandtheinformationneededtoexcelintheirjobs.CAREERMANAGEMENTWebelieveinmatchingemployees’strengthsandaptitudestoavailablejobs,developingthemtotheirhighestpotentialandofferingthemopportunitiestoadvanceintheircareers.CULTURE/VALUEMANAGEMENTWebelieveininstillingourcorporatecorevaluesandpromotingacorporateculturethatemphasizesresults,teamwork,learning,sharing,servicequalityandworkexcellence.InternalequityExternalequityEmployeeequityAdministrationConceptsCompensationTechniquesPlanning,Budgeting,Monitoring,EvaluatingJobAnalysisJobDescriptionJobEvaluationJobGradesMarketDefinitionsSalarySurveysPolicyLinesPayStructuresSeniorityIncreasesPerformanceEvaluationIncreaseGuidelinesCompensationObjectivesRoleclarityandaccountability.Facilitatesadministrationandperformancemanagement.Competitivewagepoliciesandpractices.Influenceemployees’workattitudesandbehaviour.Attracttalents.Retaintalents.Motivateemployees.Complywithregulations.Consistencyinpolicyadministration.TheStrategicCompensationModelWhatisJobEvaluation?Jobevaluationisadecisionprocessofcomparingonejobwithanotherjobwiththeaimofestablishingtherelativeimportanceofjobswithintheorganization.Jobevaluationwillprovideaninternallylogicalrankingofalljobswhichwillformthebasisofthecompany’ssalarystructurePrinciplesForJobEvaluationEvaluatingthejob,notthejob-holderEvaluatingthepresentjob,notthefuturejobJobisbeingcarriedoutinafullyacceptableandcompetentmannerProcessofevaluationisbasedongivenfactsinthejobdescriptions.Evaluatethejobbasedonthe“primaryresponsibilities”andignorethe“specialpersonal-to-holderresponsibilities.”JobEvaluation:3MainMethodsQualitativeMethod(anexampleistheJobClassificationMethodandtheJobComparisonMethod)QuantifyingtheQualitativeMethod(anexampleisthePointMethod)QuantitativeMethod(anexampleistheGuideChartProfileMethod)JobClassificationMethodadoptedbyAcademicInstitutionssuchasUniversitiesJobClassA:DoctorateDegreewithatleast10yearspostdoctoralexperienceplusrelevantmanagementexperience(FacultyHead)JobClassB:DoctoralDegreewithatleast5to10yearspostdoctoralexperience(FullProfessor)JobClassC:DoctoralDegreewithlessthan5yearspostdoctoralexperienceorMastersDegreewithover10yearspostgraduateexperience(AssociateProfessorandSeniorLecturer)JobClassD:MastersDegreewith5to10yearspostgraduateexperience(Lecturer)JobClassE:MastersDegreewith3to5yearsexperience(AssistantLecturer)JobClassF:MastersDegreewithlessthan3yearsexperience(TeachingorResearchAssistant)JobEvaluation:ThePointMethodJobEvaluationProcess1.FormaJobEvaluationSteeringCommittee2.Drawupaworkplanfortheexercise3.Decideonthebenchmarkjobs4.Decideonthejobfactorsfortheevaluation5.Determinenumberofdegreesforeachfactor6.Preparejobdescriptionsbasedonjob-factorformat7.Analyseeachbenchmarkjobintermsoffactorsanddegrees8.Decideontheweightsofeachfactor9.Determinetheweightedscoreforeachbenchmarkjob10.SlotinallotherjobsintothejobgradesThePointMethodFormtheJobEvaluation(JE)SteeringCommitteea.TheSteeringCommitteeshouldbechairedbytheCEOwithfunctionalManagers/Headsasmembers.TheHRManagershouldbethe

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