One of the world's leading experts on pay, Ed Lawler, explains the strategic role of pay in attracting and retaining employees and in organizational design and culture.
- Pay systems are a very important part of every organization. They're not only a major cost, they determine the performance of an organization. Still, many organizations and managers don't do a very good job of pay administration. This isn't because of a lack of research knowledge; it's because of a lack of education, and applying what we know, works. My name is Ed Lawler, and I've been writing, consulting, researching, and teaching about compensation and organizational effectiveness for over 50 years.
In this course I'm going to share with you the fundamentals of pay strategy. I'll talk about how to use pay to attract and retain talent, how pay can motivate performance. We'll also look at how pay effects an organization's structure and culture, as well as how to determine pay for individuals. Finally, I'll share an overview of what goes into designing a pay system. Administering pay is challenging, but with the tools and skills you'll learn in this course you'll be well on your way to understanding how to use pay to help your organization be more successful.
Let's get started.
- Determine how rewarding performance impacts an employee’s behavior and work performance.
- Identify how pay affects organizational design.
- Define the concept of paying the job.
- Examine the concept of paying the person.
- Determine when to utilize performance appraisals.