LEARNING OUTCOMES [After reading this chapter, you will be able to]
1. Explain the various classifications of rewards.
2. Discuss why we call some rewards membership based.
3. Define the goal of compensation administration.
4. Discuss job evaluation and its three basic approaches.
5. Explain the evolution of the final wage structure.
6. Describe competency-based compensation programs.
7. Discuss why executives’ salaries are significantly higher than those of other employees.
8. Describe the balance-sheet approach to international compensation.