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HR Ch. 12
Frear HR Ch. 12
Term | Definition |
---|---|
Org. Reward System | Org. system concerned with the selection of the types of rewards to be used by the org. |
Org. Rewards | Rewards that result from employment with the org., includes all types of rewards, both intrinsic and extrinsic. |
Intrinsic Rewards | Rewards internal to the individual and normally derived from involvement in certain activities or tasks. |
Extrinsic Rewards | Rewards that are controlled and distributed directly by the org. and are of a tangible nature. |
Org. Morale | An employee's feeling of being accepted by and belonging to a group of employees through common goals, confidence in the desirability of those goals, and the desire to progress toward the goals. |
Compensation | All the extrinsic rewards that employees receive in exchange for their work: composed of the base wage or salary, any incentives or bonuses, and any benefits. |
Pay | Refers only to actual dollars employees receive in exchange for their work. |
Base Wage or Salary | Hourly, Weekly, or monthly pay that employees receive for their work. |
Incentives | Rewards offered in addition to the base wage or salary and usually directly related to performance. |
Benefits | Rewards employees receive as a result of their employment and position with the org. |
Garnishment | A legal procedure by which an employer is empowered to withhold wages for payment of an employee's debt to a creditor. |
Internal Equity | Addresses what an employee is being paid for doing a job compared to what other employees in the same org. are being paid to do their jobs. |
External Equity | Addresses what employees in an org. are being paid compared to employees in other org. performing similar jobs. |
Individual Equity | Addresses the rewarding of individual contributions; is very closely related to the pay-for-performance question. |
Org. Equity | Addresses how profits are divided up within the org. |