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compenben prelim
| Question | Answer |
|---|---|
| represents both intrinsic and extrinsic rewards | compensation |
| reflects employees psychological mindsets that result from performing their jobs | intrinsic compensation |
| includes both monetary and non monetary rewards | extrinsic compensation |
| employees experience enhanced psychological states when their jobs rate high on the 5 core job dimensions | job characteristic theory |
| 5 core job dimensions | skill variaty task identity task significance authority feedback |
| is the degree wer the job requires the person to perform different tasks and involves different skill,abilities and talents | skill variety |
| is the degree wer a job enables a person to complete an entire job from start to finish | task identity |
| degree where the job has an impact on the life of a person | task significance |
| the amount of freedom, independence, and discretion the employee enjoys in determining how to perform the job | autonomy |
| is the degree wer the job or employer provides the employee with clear and direct info about job outcomes and performance | feedback |
| monetary compensation represents | core compensation |
| money for performing jobs; recurring | base pay |
| 2 types of base pay | hourly pay wage or salary |
| 5 adjustments of base pay overtime | COLA Merit Pay Seniority Pay Incentive Pay Person focused pay |
| 2 types of person focused pay | pay for knowledge skill based pay |
| represent periodic base p[ay increases that are founded on changes in prices as indexed by the Consumer Price Index(CPI) | Cost of living allowance |
| reward employees with periodic additions according to employees length of service | seniority pay |
| Employees earn permanent increases to base pay according to their performance | merit pay |
| rewards employees for partially or completely attaining a predetermined work | incentive pay |
| plans reward managerial service or professional workers for successfully learning specific curricula | pay for knowledge |
| used mostly for employees who perform physical work | skill based pay |
| fall into three broad categories: protection program, paid time off, services | discretionary benefits |
| historically provided a form of social insurance; protection programs | legally required benefits |
| gave rise to individual incentive pay systems | scientific management practices |
| analyzed the time it took employees to complete their jobs | time motion studies |
| refers specifically to a company's ability to maintain market share and profitability over a sustained period of several years | competitive advantage |
| guide the activities of companies in the market | strategic decisions |
| support the fullfillment of strategic decisions | tactical decisions |
| entails a series of judgments under uncertainty that companies direct toward achieving specific goals | strategic management |
| refers to the planned use of company resources --technology,capital and human to promote and sustain competitive advantage | competitive strategy |
| focuses on gaining competive advantage by being the lowest cost producer of a product or service within the market place while selling the product or service at a price advantage relative to the industry advantage | lowest cost strategy |
| to develop products or services that are unique from those of its competitors | differentiation strategy |
| employees that are directly involved in the production of companies goods or deliver services | line employees |
| supports the line function | staff employees |
| provide income to individuals throughout their retirement | pension programs |
| used to reduce workforce size and trim compensation expenditures | early retirement programs |
| identifying the value of a job among all jobs | internally consistent compensation systems |
| is a systematic process fo gathering, documenting and analyzing information in order to describe jobs | job analysis |
| play significant role in attracting maintaining employees | market competitive pay systems |
| entails an examination of a company's external market and internal factors | strategic analysis |
| collect analyze competitors compensation data | compensation surveys |
| represent pay rate differences for jobs of unequal worth and the framework for recognizing differences in employee contributions | pay structures |
| group jobs for pay policy aplliction | pay grades |
| build upon pay grades; min max midpoint pay rates | pay ranges |
| describe such basic industry characteristics as sales volume the impactof gov regulation, impact of technology on business | industry profiles |
| five external market elements | industry profile competition foreign demand Industry long term prospects labor market assessment |
| set the backdrop for strategic planning bec these are indicators of companies futures | industry long term prospects |
| represent key activities | labor market assessments |
| include manufacturing ,eng,r&d,operations,MIFS,Hr and marketing | functional capabilities |
| 3 internal capabilities | func,human re,finance |
| is the extent to which people accept a hierarchal system or power structure in companies | power distance |
| is the extent to which individuals value personal independenc or group membership | individualism-collectivism |
| represent the method by which society deals with risk and inability for its members | uncertainty avoidance |
| wheter masculine or feminin are dominant | masculinity feminimity |
| is an organizations system of shared values and beliefs that produce norms of behavior | organizational culture |
| differentiation strategies are most appropriate in this phase | growth |
| represents unintentional discrimination | disparate impact |
| intentinal discrimination treating someone differently because of their race,color,sex,national origin | disparate treatment |
| systems reward employees with periodic additions to base pay according length of service | seniority/longevity pay |
| states taht employees knowledge and skills generate productive capital known as human capital | human capital theory |
| CBU negotiate formal contracts w/ employees to adjucate disputes between union members and employers | job control unionism |
| rewards employees who have reached pay grade maximums and are not likely to move into higher grades | longevity pay rewards |
| refers to the minimum pay increase that employees will see as making a meaningful change in compensation | just meaningful pay increase |
| rate employees on the extent to which they display successful job performance behaviors | behavioral systems |
| displays illustrations of positive incidents of job performance for various job dimensions | behavioral observation scale |
| award bonuses to managers | management incentive plans |
| ee receive payments for specific behavioral accomplishments | behavioral encouragemnt plans |
| small group shares financila reward | team based or small group incentive palns |
| award bonuses to managers | management incentive plans |
| ee receive payments for specific behavioral accomplishments | behavioral encouragemnt plans |
| small group shares financila reward | team based or small group incentive palns |
| group of employees ,unit department is rewarded for productivity gains | gain sharing plans |
| refer to organizational units that perform the work of the organization on an ongoing basis | work team |
| people assigned to complete a one time project | project teams |
| people assigned to complete a one time project | project teams |
| gain sharing | |
| people assigned to work on a specific task in addition to normal work | task force/parallel teams |
| similar skills of knowledge | horizontal skills |
| gain sharing | |
| pay a portion of company profits to employees seperate from base pay cola merit pay. | profit sharing plans |
| similar skills of knowledge | horizontal skills |
| skills considered supervisory | vertical skill |
| refers to level of specialization or expertise an employee brings to a particualr job | depth of skills |
| jobs from withing the same job family | skill blocks model |
| encourages employees to develop skills and learn to perform jobs from different job families | job point accrual model |
| promote staffing flexibility by training employees in one department with critical skills they would need to perform effectively in their departments | cross department model |
| compensate employees with the jobs they currently perform | job based pay |
| is a key for casting internally consistent compensation systems | job evaluation |
| represent the minimum qualifications and skills that people must have to perform a particualr job | worker requirements |
| are the social contect or physical environment where work will be performed | work conditions |
| information describes general types of job behaviors occuring on multiple jobs | generalized work activities |
| information indicates the characteristics of the organization that influence how people do their work | organizational context |
| information describes physical and social factors that influence the nature of work | work context |
| detail a comprehensive set of elements that apply to a single occupation or narrowly defined job family | occupation specific requirements |
| refer to variables that define and describe the general characteristics of occupations that may influence occupation requirements | workforce characteristics |
| describe preferences for work environments and outcomes | interest |
| are enduring attributes of the individual taht influence performance | abilities |
| information describes developed capacities that facilitate learning or more rapid acquisition of knowledge | basic skills |
| information indicates developed capacities that facilitate performance of activities that occur across jobs | cross functional skills |
| plans emphasize the companies internal value system by establishing a hierarchy of internal job worth based on each jobs role in company strategy | job content evaluation |
| plans use market data to determine differences in job worth | market based evaluation |
| a job content valuation technique that uses quantitative methodology | point method |
| order from lowest to highest accding to sing criterion | simple ranking plans |
| method that orders jobs by extremes | alternation ranking |
| to place jobs into categories based on compensable factors | classification plans |
| represent the field of potentially qualified candidates for particular jobs | relevant labor markets |
| refers to a group of two or more jobs that are based on similar work characteristics | occupational classification |
Created by:
maveric