MGT4000 - Session 3 (September 10th, 2007)

Goals employees seek from work:

Equity - transparency exposes corruption, helps increase equality (gender, race, etc)
Achievement - people want to be proud of their work/perform well (placement of expectations?)
 - how motivating is a raise? (two weeks, as in until next paycheck - so, not a very permanent motivator)
 - training: is someone trained well for their position?
Camaraderie yaaaayyyy comrades

Managers should communicate - performance appraisal shouldn't be a "surprise"

Same balance in all cultures? (hahahahahahaha no)
More individualistic societies (i.e. US) = more competitive about pay, etc (less company culture-related transparency about salaries?) example Japan
What is the best system? (personal compensation => internal conflict?)
 - personally I like Best Buy's regional based competition... without the managerial level compensation

Labor rate vs labor costs
 - cutting labor rate != cutting labor costs
 - labor rate = salary divided by time worked
 - labor cost = takes productivity into account
 - how does the global economy affect this idea? Weighing core of company vs possible cost/productivity overseas

Books mentioned:
Blink
The Tipping Point