Well I think it is safe to say the weather is getting warmer – I mean summer must be close, with May only 6 weeks away.
Oh wait, you write the NKE then don’t you?
Just a friendly reminder…
This Week
After last week’s focus on Labour Relations, this week should be a little easier (I think) when we focus on Total Compensation.
While this chapter is short compared to some of the others, it also counts for 10% of the exam. You will want to review textbooks you may have from this course work.
Since no calculators are allowed on the exam, don’t worry about having to memorize a plethora of formulas or anything like that – the key is to know the philosophies behind compensation.
In terms of preparing for the NKE, there are 3 general points to remember about an organization’s Total Compensation objectives:
1. Be strategically aligned – like other areas of HR – to the organization’s goals
2. Be competitive in the given marketplace
3. Reward top performers/ those displaying ideal behaviours
There – three points, that’s it!
Well not totally, I would also focus on page 327 and know the 4 theories mentioned. As well, knowing what a compa-ratio is, and how to calculate one should you need to, is important.
Week 6 Update
This being said, have a look at page 319-20. There is an excellent example of Performance Management, as it relates to compensation.
From this example you should be able to figure out how the compa-ratio is calculated.
That is my recommended assignment for this week. While knowing how to calculate a compa-ratio is important, and may even help you in your future career, this exam is more on the theoretical side so study accordingly.
Happy Studying,
Ian |
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