– Traditional Bases of Pay and Incentives
- What is the logic behind seniority-based pay? What are the advantages and disadvantages?
- What is merit pay? What is the rationale behind it? How effective are merit pay systems?
- What can organizations do when employees reach the top of a pay scale?
- What are individual, group, and companywide incentives companies may award employees? How do they each work? Advantages and downsides?
- How do you calculate piecework?
- Calculating bonuses for Scanlon plan, improshare, and Rucker plan
- How would you design an incentive plan? How do you decide which type of system to use?
– Person Focused Pay and Building Internally Consistent Compensation Systems
- What is person focused pay? Give examples. No need to know the specifics, but in general how do they work? Why would a company use such a system?
- What are the steps to accomplishing a compensation system with internal consistency?
- How is a job analysis conducted?
- What is a job evaluation? How is it performed?
- Conducting a job evaluation using a point system. (You should know how to go about conducting one).
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