1. Pay Plans Dessler Chapter 11
MIDTERM AND HRM INTERVENTION 1 WILL BE GIVEN BACK AT THE END OF CLASS TODAY

2. Agenda – 3/15/05
Announcements
Reminders
Pay Plans
Midterm

3. Job/Internship Opportunities
Please See Course Homepage
Click on “Career Opportunities” for Information on 3 Possibilities

4. Thursday (3/17/05) GROUP TIME No Regularly Scheduled Class
Contact Me Via
ENJOY YOUR SPRING BREAK!

5. Performance Report #3 Due 3/18/05 Via Email Before 3:00 PM
Reminders
Performance Report #3 Due 3/18/05 Via Before 3:00 PM

6. Pay Plans What Are Pay Plans?
Terminology
How and When Do Organizations Evaluate Pay Plans?
Salary Surveys
Job Evaluation
Pay Grades
Pay Ranges
Why Organizations Evaluate Pay Plans?
External and Internal Equity

7. Terminology Compensation Exempt vs. Non-exempt (In)Equity
Direct and Indirect
Exempt vs. Non-exempt
(In)Equity
Salary Compression

10. How and When Organization Develop Pay Plans
Conduct a Pay Survey
Price Jobs and Rank Jobs According to Benchmark Jobs
Job Evaluation
Based Upon Compensable Factors Developed in Job Analysis and Ranking Those Jobs
Classes and Grades
Groups Based on Factors or by Pay
Price the Job
Linear
Establish Pay Ranges
Upper and Lower-bound Pay for Jobs in a Class or Grade
Continual Updates

11. Why Organizations Develop Pay Plans
Compensation
Attract, Motivate, and Retain Employees
Fairness Issues
Internal Equity
External Equity
Relative Depravation
Bottom Line Concerns

12. Modern Pay Plan Issues Executive Pay What Does this Reward?
Normally Not Just Direct Pay
Golden Parachutes
Insurance Premiums
STOCK OPTIONS
What Does this Reward?
Broadbanding
Less Classes or Grades
More Jobs in Classes and Grades
Wider Pay Range
Pay for the Skills not the Job Itself
Balance Internal and External Equity

13. Significant Difference Between Sections F(1,84) = 4.69, p = 0.03
Midterm
Significant Difference Between Sections
F(1,84) = 4.69, p = 0.03

14. Midterm Exam – 9:00 AM Descriptive Statistics Grade Distribution
Range: 53% - 98% (22 – 41 Correct)
SD: 10.9% (4.6 Correct)
Mean: 71% (30 Correct)
Median: 71% (30 Correct)
Mode: 81% (34 Correct)
Grade Distribution
2 As, 10 Bs, 14 Cs, 12 Ds, 8 F

15. OBE :00 AM

16. Midterm Exam – 10:30 AM Descriptive Statistics Grade Distribution
Range: 45% - 98% (19 – 41 Correct)
SD: 10.8% (4.5 Correct)
Mean: 76% (32 Correct)
Median: 76% (32 Correct)
Mode: 83% (35 Correct)
Grade Distribution
4 As, 13 Bs, 13 Cs, 7 Ds, 3 F

17. OBE :30 AM

18. Midterm Grade Appeal Due Next Class (3/29/05)
Visit or See Syllabus