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HR > Attitudes, Motivation, Retention, Rewards Vocab HR > Flashcards

Attitudes, Motivation, Retention, Rewards Vocab HR Flashcards

1
Q

motivation

A

the desire within a person causing that person to act

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2
Q

equity

A

the perceived fairness of what the person does compared with what the person receives

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3
Q

psychological contract

A

the unwritten expectations employees and employers have about the nature of their work relationships

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4
Q

job satistfaction

A

a positive emotional state resulting from evaluating one’s job experiences

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5
Q

attitude survey

A

a survey that focuses on employee’s feelings and beliefs about their job and the organization

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6
Q

organizational commitment

A

the degree to which employees believe in and accept organizational goals and desire to remain with the organization

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7
Q

employee engagement

A

the extent to which an employees thoughts and behaviors are focused on the employers success

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8
Q

loyalty

A

being faithful to an institution or employer

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9
Q

absenteeism

A

any failure by an employee to report for work as scheduled or to stay at work when scheduled

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10
Q

turnover

A

the process in which employees leave an organization and have to be replaced

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11
Q

churn

A

hiring new workers while laying off others

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12
Q

exit interview

A

an interview in which individuals who are leaving an organization are asked to give their reasons

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13
Q

total rewards

A

monetary and nonmonetary rewards provided by companies to attract, motivate, and retain employees

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14
Q

tangible rewards

A

elements of compensation that can be quantitatively measured and compared between organizations

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15
Q

intangible rewards

A

elements of compensation that cannot be as easily measured or calculated

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16
Q

base pay

A

basic compensation that an employee receives, usually as a wage or salary

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17
Q

wages

A

payment calculated directly from the amount of time worked by employees

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18
Q

salary

A

consistent payments made each period regardless of the number of hours worked

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19
Q

variable pay

A

compensation linked directly to individual, team, or organizational performance

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20
Q

benefit

A

indirect reward given to an employee or group of employees as part of membership in an organization

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21
Q

exempt employees

A

employees who are not paid overtime

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22
Q

nonexempt employees

A

employees who must be paid overtime

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23
Q

prevailing wage

A

an hourly wage determined by a formula that considers the rate paid for a job by majority of the employers in the appropriate geographic area

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24
Q

garnishment

A

a court order that directs an employer to set aside a portion of an employees wages to pay a debt owned to a creditor

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25
Q

entitlement philosophy

A

assumes that individuals who have worked another year are entitled to pay increases, with little regard for performance differences

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26
Q

pay for performance philosophy

A

assumes that compensation changes reflect performance differences

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27
Q

expectancy theory

A

an employees motivation is based on the probability that his or her efforts will lead to an expected level of performance that is linked to a valued reward

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28
Q

equity theory

A

individuals judge fairness (equity) in compensation by comparing their inputs and outcomes against the inputs and outcomes of referent others

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29
Q

procedural justice

A

perceived fairness of the process and procedures used to make decisions about employees

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30
Q

distributive justice

A

perceived fairness in the distribution of outcomes

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31
Q

competency based pay

A

rewards individuals for the capabilities they demonstrate and acquire

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32
Q

offshoring

A

moving jobs to lower wage countries

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33
Q

home country based approach

A

maintain an expatriate’s standard of living in the home country

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34
Q

host country based approach

A

compensate the expatriate at the same level as workers from the host country

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35
Q

job evaluation

A

formal, systematic means to identify the relative worth of jobs within an organization

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36
Q

compensable factor

A

job value commonly present throughout a group of jobs within an organization

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37
Q

market pricing

A

use of market pay data to identify the relative value of jobs based on what other employers pay for similar jobs

38
Q

pay survey

A

collection of data on compensation rates for workers performing similar jobs in other organizations

39
Q

benchmark jobs

A

jobs found in many organizations that can be used for the purposes of comparison

40
Q

pay grades

A

groupings of individual jobs having approximately the same job worth

41
Q

market line

A

graph line that shows the relationship between job value as determined by job evaluation points and job value as determined pay survey rates

42
Q

market banding

A

grouping jobs into pay grades based on similar market survey amounts

43
Q

broadbanding

A

practice of using fewer pay grades with much broader ranges than in traditional compensation systems

44
Q

red-circled employee

A

incumbent who is paid above the range set for a job

45
Q

green-circled employee

A

incumbent who is paid below the range set for a job

46
Q

pay compression

A

occurs when the pay differences among individuals with different levels of experience and performance become small

47
Q

compa-ratio

A

pay level divided by the midpoint of the pay range

48
Q

seniority

A

time spent in an organization or on a particular job

49
Q

lump-sum increase (LSI)

A

one time payment of all or part of a yearly pay increase

50
Q

variable pay

A

compensation that is tied to performance

51
Q

incentives

A

tangible rewards that encourage or motivate an action

52
Q

piece-rate system

A

pay system in which wages are determined by multiplying the number of units produced by the piece rate for one unit

53
Q

bonus

A

one-time payment that does not become part of the employees base pay

54
Q

free rider

A

a free rider is a member of the group who contributes little

55
Q

gainsharing

A

system of sharing with employees grater than expected gains in profits and or productivity

56
Q

profit sharing

A

system to distribute a portion of the profits of an organization to employees

57
Q

stock option plan

A

plan that gives employees the right to purchase a fixed number of shares of company stock at a specified price for a limited period of time

58
Q

employee stock ownership plan ESOP

A

plan designed to give employees significant stock ownership in their employees

59
Q

commission

A

compensation computed as a percentage of sales in units or dollars

60
Q

draw

A

amount advanced against, and repaid from, future commissions earned by the employee

61
Q

salary plus commission

A

combines the stability of a salary with a commission

62
Q

perquisites (Perks)

A

special benefits–usually noncash items–for executives

63
Q

restricted stock option

A

option that indicates that company stock shares will be paid as a grant of shares to individuals, usually linked to achieving specific performance criteria

64
Q

stock option

A

option that gives individuals the right to buy stock in a company, usually at an advantageous price

65
Q

golden parachute

A

compensation given to an executive if he or she is forced to leave the organization

66
Q

compensation commitee

A

subgroup of the board of directors that is composed of directors who are not officers of the firm

67
Q

benefit

A

an indirect reward given to an employee or group of employees for organizational membership

68
Q

gross up

A

to increase the net amount of what the employee receives to include the taxes owed on the amount

69
Q

flexible benefits plan

A

program that allows employees to select the benefits they prefer from groups of benefits established by the employer

70
Q

adverse selection

A

situation in which only higher risk employees select and use certain benefits

71
Q

open enrollment

A

a time when employees can change their participation level in various benefit plans and switch between benefit options

72
Q

third party administrator (TPA)

A

a vendor that provides administrative services to an organization

73
Q

self-service

A

technology that allows employees to change their benefits choices, track their benefits balances, and submit questions to HR staff members and external benefits providers

74
Q

cafeteria benefit plan

A

employees are given a budget and can purchase the bundle of benefits most important to them from the “menu” of options offered by the employer

75
Q

workers compensation

A

security benefits provided to workers who are injured on the job

76
Q

no fault insurance

A

injured workers receive benefits even if the accident was their fault

77
Q

exclusive remedy

A

workers compensation benefits are the only benefits injured workers may receive to compensate for a work related injury

78
Q

three legged stool

A

a model showing the three sources of income to fund an employees retirement

79
Q

vesting

A

right of employees to receive certain benefits from their pension plans

80
Q

portability

A

a pension plan feature that allows employees to move their pension benefits from one employer to another

81
Q

retirement plan

A

retirement program established and funded by the employer and employees

82
Q

defined benefit (DB) plan

A

retirement program in which employees are promised a pension amount based on age and service

83
Q

defined contribution (DC) plan

A

retirement program in which the employer makes an annual payment to an employees pension account

84
Q

401K plan

A

agreement in which a percentage of an employees pay is withheld and invested in a tax deferred account

85
Q

auto-enrollment

A

employee contributions to a 401K plan are started automatically when an employee is eligible to join the plan

86
Q

cash balance plan

A

retirement program in which benefits are determined on the basis of accumulation of annual company contributions plus interest credited each year

87
Q

deductible

A

money paid by an insured individual before a health plan pays for any medical expenses

88
Q

copayment

A

the portion of medical expenses paid by the insured individual

89
Q

managed care

A

approaches that monitor and reduce medical costs through restrictions and market system alternatives

90
Q

consumer driven health (CDH) plan

A

health plan that provides employer financial contributions to employees to help cover health related expenses

91
Q

qualifying event

A

an event that causes a plan participant to lose group health benefits

92
Q

serious health condition

A

health condition requiring in-patient, hospital, hospice, or residential medical care or continuing physician care

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