Lecture 5

Question 1

What should remuneration policy do

Answer 1

1. Reflect strategic business objectives & culture

2.Articulate objectives of remuneration program

3. Be communicated

Question 2

Objective of remuneration for organization

Answer 2

1. Attract and retain desired quality of employees
2. Equitable treatment
3. Motivate employees
4. Ensure remuneration is competitive
5. Control remuneration costs
6. Ensure value of remuneration costs
7. Comply with legal requirements

Question 3

Objective of remuneration for employee

Answer 3

1. Meet their needs, motivations and expectations in workplace
2. Provide financial security and stability
3. Provide recognition and reward for contributions

Question 4

Factors contributing to gender discrimination

Answer 4

Implicit biases and stereotypes
Broken career paths
More part-time work
Occupational segregation
Under-representation in senior mgmt
Less likely to negotiate