Wednesday, March 23, 2011

Group Summary of Chapter 2 : Bases of Job-related behavior

            This chapter discusses the different factors that affect the job behaviors of an employee. 
Behaviors have two dimensions. The first is qualitative that measured like how good or bad the employees. The other is the quantitative dimension that can be measured like job performance (Number of absences, quantity, number of errors, etc.). As we think about the causation of human behavior, my specific human attribute or characteristic of the job setting causes a particular form of behavior because there is a statistical relationship between two variables does not mean that are necessarily causes the other individual variables are factors under personal characteristics such as attitudes, physical characteristics, interest and motivation, age, sex, education, experience and other personal characteristics. There are two general classes of situational variables namely the job and working conditions variables that include methods of work, design, arrangement and the physical work environment. The other is the organizational and social variables that include the character of the organization, true of training, and supervision received. Quantitative behavior of whatever form is the consequence on the total effect of several variables individual and situational.

Tuesday, March 8, 2011

Benefits and Compensation


Employee benefits  are various non-wage compensations provided to employees in addition to their normal wages or salaries. Where an employee exchanges (cash) wages for some other form of benefit, this is generally referred to as a 'salary sacrifice' or 'salary exchange' arrangement. In most countries, most kinds of employee benefits are taxable to at least some degree.
Some of these benefits are: housing (employer-provided or employer-paid), group insurance (health, dental, life etc.), disability incomeprotection, retirement benefits, daycare, tuition reimbursement, sick leave, vacation (paid and non-paid), social security, profit sharing, funding of education, and other specialized benefits.
The purpose of the benefits is to increase the economic security of employees.
The term perqs or perks is often used colloquially to refer to those benefits of a more discretionary nature. Often, perks are given to employees who are doing notably well and/or have seniority. Common perks are take-home vehicles, hotel stays, free refreshments, leisure activities on work time (golf, etc.), stationery, allowances for lunch, and—when multiple choices exist—first choice of such things as job assignments and vacation scheduling. They may also be given first chance at job promotions when vacancies exist.

Workers' compensation  is a form of insurance that provides wage replacement and medical benefits for employees who are injured in the course of employment, in exchange for mandatory relinquishment of the employee's right to sue his or her employer for the tort of negligence. The tradeoff between assured, limited coverage and lack of recourse outside the worker compensation system is known as "the compensation bargain." While plans differ between jurisdictions, provision can be made for weekly payments in place of wages (functioning in this case as a form of disability insurance), compensation for economic loss (past and future), reimbursement or payment of medical and like expenses (functioning in this case as a form ofhealth insurance), and benefits payable to the dependents of workers killed during employment (functioning in this case as a form of life insurance). General damages for pain and suffering, andpunitive damages for employer negligence, are generally not available in worker compensation plans, and negligence is generally not an issue in the case. These laws were first enacted inEurope and Oceania, with the United States following shortly thereafter.

The Basic components of Employee Compensation and benefits

Employee compensation and benefits are basically divided into four categories:
1. Guaranteed Pay – monetary (cash) paid by an employer to an employee based on employee/employer relations. The most common form of guaranteed pay is the base salary.
2. Variable Pay – monetary (cash) reward paid by an employer to an employee that is contingent on discretion, performance or results achieved. The most common forms are bonuses and sales incentives.
3. Benefits – programs an employer uses to supplement employees’ compensation, such as paid time-off, medical insurance, company car, and more.
4. Equity Based Compensation – a plan using the employer’s share as compensation. The most common examples are stock options.