Chapter 8: Pay, Careers, and Changing Employment Relationship Esther Chi...

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Chapter 8: Pay, Careers, and Changing Employment Relationship Esther Chiu Victor Lopez Calvin Doan Jonathan Truong by Mind Map: Chapter 8: Pay, Careers, and Changing Employment Relationship                          Esther Chiu Victor Lopez Calvin Doan Jonathan Truong

1. https://www.youtube.com/watch?v=AKS5YQAw8Wg

2. Performance Appraisal: Evaluating performance to encourage employee motivation and performance and to provide information to be used in managerial decision making.

2.1. Developing a Performance Appraisal System:

2.2. 1) Choose the mix of formal and informal appraisal

2.3. 2) Choosing what factors to evaluate.

2.4. 3) Choosing methods of appraisal

2.5. 4) Choosing who appraises performance

3. Psychological Contract: the employee's perception of the exchange relationship between employees and the firm.

3.1. Three sources of psychological contract:

3.1.1. Direct communication

3.1.1.1. happens before entering the firm

3.1.1.2. during daily interaction with other coworkers

3.1.2. Observation

3.1.2.1. how others behave

3.1.2.2. how decisions are made

3.1.3. Written Documents

3.1.3.1. Organization policies

3.1.3.2. employee handbook

4. Two types of Psychological Contract

4.1. The Transactional Contract

4.1.1. Short term

4.1.2. Narrow and specific

4.1.3. Limited promises and obligates

4.2. The relational contract

4.2.1. Long term

4.2.2. General and evolving

4.2.3. Extensive and broad

4.2.4. Promises and obligates http://www.costco.com/benefits.html

5. Career Stages

5.1. Costco’s only requirements are the applicant must be 18 and over, have a high school diploma, and a motivated personality.

5.2. They employ over 186,000 associates.

5.3. Part-time workers play the support role within the company.

6. There are five different career stages in a person’s lifetime.

6.1. Stage 1 Preparation for work: decide what kind of career they want and learn what qualifications and experiences they need to obtain a good career.

6.2. Stage 2 Organizational entry: find a job that will be a good start to their chosen careers.

6.3. Stage 3 Early career: obtained a job in a chosen career that they want to get established & achieve in.

6.4. Stage 4 Mid-career: been in the workforce between 20 and 35 years and face the challenge of remaining productive.

6.5. Stage 5 Late career: extends as long as an individual’s career is active.

7. The End

8. Potential problems in a Subjective appraisal

8.1. The number of problems are bias and can result in inaccurate perceptions of other people in the organization.

8.1.1. 1. Stereotype 2. Primary Effect 3. Contrast Effect 4. Halo Effect 5. Similar-to-me Effect 6. Harshness, leniency, and average tendency biases 7. Knowledge-of-predictor Bias

9. Career The sum of work-related experiences throughout a person’s lifetime. career opportunities are an important source of extrinsic & intrinsic motivation for employees.

9.1. 4 different types of careers: 1) Steady-state 2) Linear 3) Spiral 4) Transitory

9.1.1. Steady-state careers: ones that reflects a one-time commitment to a certain kind of job that is maintained throughout one’s working life

9.1.2. Linear careers: when a person progresses through a sequence of jobs, and each job entails progress over the prior one in terms of responsibility, skills needed, level in the hierarchy of organization, and so on.

9.1.3. Spiral careers: when a person holds different types of jobs that build on each other but tend to be fundamentally different.

9.1.4. Transitory careers: when a person changes job frequently, and each job is different from the one before it.

10. Pay

10.1. Costco Employee Pay and Benefits

10.2. Merit Pay Plan A plan where pay is based on performance.

10.2.1. Should merit pay be based on individual, group, or organization performance?

10.2.2. Should Merit Pay Be in the Form of a Salary Increase or a Bonus?

11. Contemporary Career Challenges

11.1. Ethical Career Management: Ethical career practices are based on trust, honesty, and open communication.

11.2. Career Management that supports diversity: organization’s diverse members are given the career opportunities they deserve.

11.3. Career management in area of dual-career couples: When dual-career couples have children, the needs of the entire family have to be taken into account

12. The Ethics of Pay differentials and Comparable Worth

12.1. The idea that jobs of equivalent value to an organization should carry the same pay rates regardless of differences in the work and the personal characteristics of the employee.