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human resource mng 3

vocab for the final, covers ch 10,11,13,16 straight from book

Performance management Series of activities designed to ensure that the organization gets the performance it needs from its employees.
Performance appraisal Process of determining how well employees do their jobs relative to a standard and communicating that information to them.
Job duties Important elements in a given job.
Performance standards Define the expected levels of employee performance.
Graphic rating scale Scale that allows the rater to mark an employee’s performance on a continuum.
Ranking Performance appraisal method in which all employees are listed from highest to lowest in performance.
Forced distribution Performance appraisal method in which ratings of employees’ performance levels are distributed along a bell-shaped curve.
Management by objectives (MBO) Performance appraisal method that specifies the performance goals that an individual and manager identify together.
Recency effect Occurs when a rater gives greater weight to recent events when appraising an individual’s performance.
Primacy effect Occurs when a rater gives greater weight to information received first when appraising an individual’s performance.
Central tendency error Occurs when a rater gives all employees a score within a narrow range in the middle of the scale.
Leniency error Occurs when ratings of all employees fall at the high end of the scale.
Strictness error Occurs when ratings of all employees fall at the low end of the scale.
Rater bias Occurs when a rater’s values or prejudices distort the rating.
Halo effect Occurs when a rater scores an employee high on all job criteria because of performance in one area.
Contrast error Tendency to rate people relative to others rather than against performance standards.
Total rewards Monetary and nonmonetary rewards provided by companies to attract, motivate, and retain employees.
Base pay Basic compensation that an employee receives, usually as a wage or salary.
Wages Payments calculated directly from the amount of time worked by employees.
Salaries Consistent payments made each period regardless of the number of hours worked.
Variable pay Compensation linked directly to individual, team, or organizational performance.
Benefit Indirect reward given to an employee or group of employees as part of membership in the organization.
Entitlement philosophy Assumes that individuals who have worked another year are entitled to pay increases, with little regard for performance differences.
Pay-for-performance philosophy Requires that compensation changes reflect performance differences.
Equity Perceived fairness between what a person does and what the person receives.
Procedural justice Perceived fairness of the process and procedures used to make decisions about employees.
Distributive justice Perceived fairness in the distribution of outcomes.
Competency-based pay Rewards individuals for the capabilities they demonstrate and acquire.
Balance-sheet approach Compensation plan that equalizes cost differences between the international assignment and the same assignment in the home country.
Global market approach Compensation plan that attempts to be more comprehensive in providing base pay, incentives, benefits, and relocation expenses regardless of the country to which the employee is assigned.
Tax equalization plan Compensation plan used to protect expatriates from negative tax consequences.
Living wage Earnings that are supposed to meet the basic needs of an individual working for an organization.
Exempt employees Employees who are not paid overtime.
Nonexempt employees Employees who must be paid overtime.
Pay equity The concept that the pay for all jobs requiring comparable knowledge, skills, and abilities should be the same even if actual job duties and market rates differ significantly.
Garnishment A court order that directs an employer to set aside a portion of an employee’s wages to pay a debt owed to a creditor.
Job evaluation Formal, systematic means to identify the relative worth of jobs within an organization.
Compensable factor Job value commonly present throughout a group of jobs within an organization.
Market pricing Use of market pay data to identify the relative value of jobs based on what other employers pay for similar jobs.
Pay survey Collection of data on compensation rates for workers performing similar jobs in other organizations.
Benchmark jobs Jobs found in many organizations that can be used for the purposes of comparison.
Job family Group of jobs having common organizational characteristics.
Pay grades Groupings of individual jobs having approximately the same job worth.
Market line Graph line that shows the relationship between job value as determined by job evaluation points and job value as determined pay survey rates.
Market banding Grouping jobs into pay grades based on similar market survey amounts.
Broadbanding Practice of using fewer pay grades with much broader ranges than in traditional compensation systems.
Red-circled employee Incumbent who is paid above the range set for a job.
Green-circled employee Incumbent who is paid below the range set for a job.
Pay compression Occurs when the pay differences among individuals with different levels of experience and performance become small.
Compa-ratio Pay level divided by the midpoint of the pay range.
Seniority Time spent in an organization or on a particular job.
Lump-sum increase (LSI) One-time payment of all or part of a yearly pay increase.
Benefit An indirect reward given to an employee or group of employees for organizational membership.
Flexible benefits plan Program that allows employees to select the benefits they prefer from groups of benefits established by the employer.
Adverse selection Situation in which only higher-risk employees select and use certain benefits.
Workers’ compensation Security benefits provided to persons who are injured on the job.
Severance pay Security benefit voluntarily offered by employers to individuals whose jobs are eliminated or who leave by mutual agreement with their employers.
Copayment Strategy of requiring employees to pay a portion of the cost of insurance premiums, medical care, and prescription drugs.
Managed care Approaches that monitor and reduce medical costs through restrictions and market system alternatives.
Preferred provider organization (PPO) A health care provider that contracts with an employer or an employer group to supply health care services to employees at a competitive rate.
Health maintenance organization (HMO) Plan that provides services for a fixed period on a prepaid basis.
Utilization review Audit of services and costs billed by health care providers.
Consumer-driven (CDH) plan Health plan that provides employer financial contributions to employees to help cover their health-related expenses.
Health reimbursement arrangement (HRA) Health plan in which the employer sets aside money in a health reimbursement account to help employees pay for qualified medical expenses.
Flexible spending accounts Benefits plans that allow employees to contribute pretax dollars to fund certain additional benefits.
Pension plan Retirement program established and funded by the employer and employees.
Defined-benefit plan Retirement program in which employees are promised a pension amount based on age and service.
Defined-contribution plan Retirement program in which the employer makes an annual payment to an employee’s pension account.
Cash balance plan Retirement program in which benefits are based on an accumulation of annual company contributions plus interest credited each year.
Contributory plan Pension plan in which the money for pension benefits is paid by both employees and the employer.
Noncontributory plan Pension plan in which all the funds for pension benefits are provided by the employer.
Vesting Right of employees to receive certain benefits from their pension plans.
Portability A pension plan feature that allows employees to move their pension benefits from one employer to another.
401(k) plan Agreement in which a percentage of an employee’s pay is withheld and invested in a tax-deferred account.
Stock purchase plan Plan in which the employer provides matching funds equal to the amount invested by the employee for the purchase of stock in the company.
Stock purchase plan Plan in which the employer provides matching funds equal to the amount invested by the employee for the purchase of stock in the company.
Serious health condition Health condition requiring in-patient, hospital, hospice, or residential medical care or continuing physician care.
Well pay Extra pay for not taking sick leave.
Paid-time-off (PTO) plan Plan that combines all sick leave, vacation time, and holidays into a total number of hours or days that employees can take off with pay.
Union Formal association of workers that promotes the interests of its members through collective action.
Codetermination Practice whereby union or worker representatives are given positions on a company’s board of directors.
Craft union Union whose members do one type of work, often using specialized skills and training.
Industrial union Union that includes many persons working in the same industry or company, regardless of jobs held.
Federation Group of autonomous unions.
Business agent A full-time union official who operates the union office and assists union members.
Union steward Employee elected to serve as the first-line representative of unionized workers.
Right-to-work laws State laws that prohibit requiring employees to join unions as a condition of obtaining or continuing employment.
Open shop Firm in which workers are not required to join or pay dues to a union.
Closed shop Firm that requires individuals to join a union before they can be hired.
Salting Practice in which unions hire and pay people to apply for jobs at certain companies to begin organizing efforts.
Union authorization card Card signed by employees to designate a union as their collective bargaining agent.
Bargaining unit Employees eligible to select a single union to represent and bargain collectively for them.
Decertification Process whereby a union is removed as the representative of a group of employees.
Collective bargaining Process whereby representatives of management and workers negotiate over wages, hours, and other terms and conditions of employment.
Management rights Rights reserved so that the employer can manage, direct, and control its business.
Union security provisions Contract clauses to help the union obtain and retain members.
Mandatory issues Collective bargaining issues identified specifically by labor laws or court decisions as subject to bargaining.
Permissive issues Collective bargaining issues that are not mandatory and that relate to certain jobs.
Illegal issues Collective bargaining issues that would require either party to take illegal action.
Ratification Process by which union members vote to accept the terms of a negotiated labor agreement.
Conciliation Process by which a third party assists union and management negotiators to reach a voluntary settlement.
Mediation Process by which a third party helps the negotiators reach a settlement.
Arbitration Process that uses a neutral third party to make a decision.
Strike Work stoppage in which union members refuse to work in order to put pressure on an employer.
Lockout Shutdown of company operations undertaken by management to prevent union members from working.
Complaint Indication of employee dissatisfaction.
Grievance Complaint formally stated in writing.
Grievance procedures Formal channels of communication used to resolve grievances.
Grievance arbitration Means by which a third party settles disputes arising from different interpretations of a labor contract.
Created by: romoore245
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