Pricing Managerial and Professional Jobs

Get Started. It's Free
or sign up with your email address
Pricing Managerial and Professional Jobs by Mind Map: Pricing Managerial and Professional Jobs

1. What determine executive pay ? -Job complexity (span of control, the number of functional divisions over which the executive has direct responsibility, and management level) -Ability to pay (total profit and rate of return) -Executive’s human capital (educational level, field of study, work experience)

2. Basic Compensation Elements for to executives -base pay -short-term incentives -long-term incentives and executive benefits and perks

3. What is competency based pay ? the company pays for the employee’s range, depth, and types of skills and knowledge, rather than for the job title he or she holds

4. Elements of competency based pay - a system where the employer defines specific required skills - chooses a method for basing the person’s pay on - a training system for acquiring skills - a competency testing system - a work design that allows employees to move among jobs