Final Flashcards
What are the 3 roles of compensation?
- Attract
- Motivate
- Retain
What is the manager’s role in compensation?
- Understand compensation principles
- Possess adequate knowledge of the positions managed
- Ensure equity
What is direct compensation?
- Base salary (salary increase, cost of living)
- Pay incentives
- Team bonus (small team, teamwork)
- Gain sharing (plant workers, lower cost)
- Profit sharing (managers, motivation)
- Stock purchase (all employee, mobilization)
- Stock options (senior management, increase market value stocks)
What is indirect compensation?
- Benefits
- Retirement plan
- Insurance plan (life, sickness, medical, dental…)
- Government plan (CSST for example) - Paid time off (14%)
- Civic holidays
- Vacation - Employee services
- Rebates, daycare, gym…
When building a compensation program, you need to take into account…
- Legal context
- Labour standard act : Base salary and paid time off
- Canadian Charter of Rights and Freedoms : Base salary (equal salary for equal or equivalent work)
- Pay equity act : Base salary, to correct salary differences caused by systemic discrimination (sexe) - Internal equity (evaluation of the value of each position)
- Job analysis, description, evaluation - External equity based on:
- salary survey, ranges - Individual equity
- Individual performance, competency, seniority, experience - Collective equity
- groups contribution to the success of the org.
How to set base salary (Internal equity)?
- attribute a relative value to the job based on its importance to the organization
- Definition of factors (weighting system)
- Qualifications and experiences required
- Responsibilities
- Intellectual and physical effort
- Working conditions
1. Job analysis
2. Job description
3. Job evaluation
How to set a base salary (External equity)?
- Choose benchmark (market, location, size..?)
- Salary survey (information about wages supplied by companies in the benchmark)
- Salary positioning (lead, lag, match)
- Salary ranges
What are the 4 goals of competency development?
- Ensure integration of new employees
- Consolidate your present operational position
- Support (present or future) organizational change
- Support career path of employees
What is a competency?
What is a competency employee?
- Composite of knowledge, skills and attitudes
- Master knowledge, skills and attitudes necessary to perform their jobs in an effective manner
- Have the ability to solve problems
- Have the ability to adapt to change
- Predictable performance
What is the life cycle of a competency?
- Acquisition
- Optimization (fully operational, daily basis)
- Obsolescence (lost of relevance)
What is the crocodile syndrome?
With time -> increase of complexification and obsolescence, leading to an increase of the non-competency zone and individual and organizational vulnerability
What is the promotion of workforce skills development and recognition?
- Administered by Emploi-Québec
- Applies to all categories of employees
- Employers whose total payroll is 1 million$ or more must invest 1% of the total payroll in competency and skills development activities
- Declare the amount to Revenue Quebec
- Pay the difference if less than 1%, or receive credit for future if more than 1%
What is the manager’s role in competency development?
- Reflect (question on operations and professional growth)
- Determine competencies to develop
- Choose learning strategies
- > development activities - Support transfer of learning
- > competencies and effect? - Evaluate development activities
- > improvement of overall system
What are the 3 levels of learning?
- Knowledge (cognitive perspective - thinking)
- Knowledge (remembering something previous)
- Comprehension (grasping the meaning)
- Application (using)
- Analysis (breaking down into components)
- Synthesis (putting together)
- Evaluation (judging the value) - Skills (psychomotor perspective - doing)
- Attitudes (affective perspective - feeling)
What are the methods for identifying competencies?
For individuals - self-assesment - performance evaluation (Analysis of performance indicators, evaluation interview, direct observation) - competency assessment - potential assessment For teams - Group interview - Matrix approach
What are the learning strategies?
- Outside work
- Courses, seminars, webinars
- Simulations
- Self-training
- College, university studies - At work
- Tutoring, mentoring
- Behaviour modeling - During work
- Hands-on training
- Job rotation
- Increased responsibilities
- E-learning
Advantages of learning strategies within the company and outside the company.
Inside
- Better fit between learning and job situation
- Possibility of remaining on job site or close
- Supervision easier
- Learning transfer more complete and faster
- Less time lost and replacement time
- Possibility of having tutors
Outside
- Design time is often shortened
- Wider variety, varied contexts
- More specific and complexe
- Less expensive foe standardized training
- Recognition of training
What are the 8 important variables for learning strategies?
- Strategic importance of the development activity and the necessity of changing behaviour
- Goals of the development activity
- Nature of the competencies to be acquired and increased (field, level of complexity)
- Characteristics of the learners (motivation, cognitive abilities, previous experiences)
- Context in which the competencies are to be implemented (urgent work, availability of equipment, possibility of replacing employee)
- Skills that can be mobilized in your department or within the company
- Budget and time available to reach to goals that have been set
- Energy that you are ready to invest
How to support the transfer of learning?
- Before the activity
- Plan the activity
- Help your employee and prepare the environment
- Motivate - During the activity
- Stay close
- Encourage - After the activity
- Help create a climate
- Adequate supervision
- Adequate equipment
- Acknowledge
What are the 3 essential elements that improve the quality of the learning transfer?
- Employee (experience, capacity of learning, self-confidence, professional aspiration, willingness)
- Development activity (when, How, teaching support, content, level of difficulty, pace)
- Work environment (workload, availability of resources, support from co-workers, workplace climate, possibilities for recognition and promotion)
How to evaluate the quality of development activities?
- Reactions - % of satisfaction (immediate reactions)
- Learning - Learning assessment (use feedback devices or pre-pro tests to measure what have been learned)
- Transfer - Expected impact on work performance (make sure learners apply new skills and knowledge)
- Results - Overall assessment of cost-benefit ratio (using objectives measures, good or bad investment)
What is a performance appraisal?
An evaluation process usually performed annually by a supervisor to help employees understand their roles, objectives, expectations and level of performance success.
*Continuously throughout the year, but formalized once a year
What is performance management?
The process of creating a work environment in which people can perform to the best of their abilities.
What are the purposes of performance appraisal for the organization?
- Facilitate the implementation of the strategic plan and help attain corporate global objectives
- Improve productivity
- Identify training and development needs
- Update the competencies inventory
- Provide feedback on training programs
- Shed light on staffing process
- Improve one-on-one communications
- Enhance work atmosphere
- Make high and low performers stand out
- Help with staffing decisions when there is a merger, acquisition of downsizing
What are the purposes of performance appraisal for supervisors?
- Justify salary increases
- Identify employees strengths and weaknesses (on basis of job tasks and KSAO)
- Pinpoint the group’s strengths and weaknesses
- Define the objectives for the coming period
- Reinforce the credibility of line management
- Justify personnel movements
- Allocate responsibilities among group members
- Validate staffing process
What are the purposes of performance appraisal for the employee (Proaction, follow-up, feedback, correction) ?
- Clarify what is expected with respect to objectives, responsibilities, results and behaviors
- Indicate the supervisors view of past employee performance
- Confirm employees strengths and weaknesses
- Give opportunity to employees to express themselves
- Provide a framework for setting in place a plan of action for coming year
What is the process of performance management?
- Evaluate performance
- Propose an action plan
- Define expectations
- Support performance
- Interim review meeting
- Support performance
* while considering employees as strategic partners