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Few people work in the same jobs their entire careers. Some people change jobs within one organization, others change organizations, and many do both

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Planning career progressions in advance is in everyone's best interests

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Planning can help map out what areas one is most interested in and help that person see wilt opportunities are available within the organization

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Definition: A management policy decision about whether the firm wants to pay above, at, or below the going rate for labor in the industry or the geographic area

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Affect by:
Organization strategy
Availability of resource
Rate of unemployment
Wage survey data

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things of value other than compensation that the organization provides to its workers.

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is the financial remuneration given by the organization to its employees in exchange for their work.

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Definition: Usually set up through a procedure called job evaluation—an attempt to assess the worth of each job relative to other jobs.

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Pay for time not worked:
+ sick leave
+ vacation
+ holidays
+ unemployment compensation

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–Wages are hourly compensation paid to operating employees.
–Salary is paid for the total contribution of an employee and is not based on total hours worked.
–Incentives are special compensation opportunities that are usually tied to performance.

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–Provide a reasonable standard of living
–Provide a tangible measure of an individual’s value to the organization

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Insurance benefits:
+ life insurance and health insurance for employees and dependents
+ Workers’ compensation

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Cafeteria benefits plans
-> basic coverage is offered to all employees
-> but employees are then allowed to choose what additional benefits they want (up to salary-based cost limits)

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This decision concerns how much to pay each
employee in a particular job.

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Employee service benefits:
+ extras as tuition reimbursement
+ recreational opportunities

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Base on:
Seniority
Experience
Performance

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Set up through:
Internal equity
Job ranking
Job evaluation—an attempt to assess the worth of each job relative to other jobs.