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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
entitlement philosophy
assumes that individuals who have worked another year are entitled to pay increases, with little regard for performance differences
26
pay for performance philosophy
assumes that compensation changes reflect performance differences
27
expectancy theory
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
28
equity theory
individuals judge fairness (equity) in compensation by comparing their inputs and outcomes against the inputs and outcomes of referent others
29
procedural justice
perceived fairness of the process and procedures used to make decisions about employees
30
distributive justice
perceived fairness in the distribution of outcomes
31
competency based pay
rewards individuals for the capabilities they demonstrate and acquire
32
offshoring
moving jobs to lower wage countries
33
home country based approach
maintain an expatriate's standard of living in the home country
34
host country based approach
compensate the expatriate at the same level as workers from the host country
35
job evaluation
formal, systematic means to identify the relative worth of jobs within an organization
36
compensable factor
job value commonly present throughout a group of jobs within an organization
37
market pricing
use of market pay data to identify the relative value of jobs based on what other employers pay for similar jobs
38
pay survey
collection of data on compensation rates for workers performing similar jobs in other organizations
39
benchmark jobs
jobs found in many organizations that can be used for the purposes of comparison
40
pay grades
groupings of individual jobs having approximately the same job worth
41
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
42
market banding
grouping jobs into pay grades based on similar market survey amounts
43
broadbanding
practice of using fewer pay grades with much broader ranges than in traditional compensation systems
44
red-circled employee
incumbent who is paid above the range set for a job
45
green-circled employee
incumbent who is paid below the range set for a job
46
pay compression
occurs when the pay differences among individuals with different levels of experience and performance become small
47
compa-ratio
pay level divided by the midpoint of the pay range
48
seniority
time spent in an organization or on a particular job
49
lump-sum increase (LSI)
one time payment of all or part of a yearly pay increase
50
variable pay
compensation that is tied to performance
51
incentives
tangible rewards that encourage or motivate an action
52
piece-rate system
pay system in which wages are determined by multiplying the number of units produced by the piece rate for one unit
53
bonus
one-time payment that does not become part of the employees base pay
54
free rider
a free rider is a member of the group who contributes little
55
gainsharing
system of sharing with employees grater than expected gains in profits and or productivity
56
profit sharing
system to distribute a portion of the profits of an organization to employees
57
stock option plan
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
employee stock ownership plan ESOP
plan designed to give employees significant stock ownership in their employees
59
commission
compensation computed as a percentage of sales in units or dollars
60
draw
amount advanced against, and repaid from, future commissions earned by the employee
61
salary plus commission
combines the stability of a salary with a commission
62
perquisites (Perks)
special benefits--usually noncash items--for executives
63
restricted stock option
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
stock option
option that gives individuals the right to buy stock in a company, usually at an advantageous price
65
golden parachute
compensation given to an executive if he or she is forced to leave the organization
66
compensation commitee
subgroup of the board of directors that is composed of directors who are not officers of the firm
67
benefit
an indirect reward given to an employee or group of employees for organizational membership
68
gross up
to increase the net amount of what the employee receives to include the taxes owed on the amount
69
flexible benefits plan
program that allows employees to select the benefits they prefer from groups of benefits established by the employer
70
adverse selection
situation in which only higher risk employees select and use certain benefits
71
open enrollment
a time when employees can change their participation level in various benefit plans and switch between benefit options
72
third party administrator (TPA)
a vendor that provides administrative services to an organization
73
self-service
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
cafeteria benefit plan
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
workers compensation
security benefits provided to workers who are injured on the job
76
no fault insurance
injured workers receive benefits even if the accident was their fault
77
exclusive remedy
workers compensation benefits are the only benefits injured workers may receive to compensate for a work related injury
78
three legged stool
a model showing the three sources of income to fund an employees retirement
79
vesting
right of employees to receive certain benefits from their pension plans
80
portability
a pension plan feature that allows employees to move their pension benefits from one employer to another
81
retirement plan
retirement program established and funded by the employer and employees
82
defined benefit (DB) plan
retirement program in which employees are promised a pension amount based on age and service
83
defined contribution (DC) plan
retirement program in which the employer makes an annual payment to an employees pension account
84
401K plan
agreement in which a percentage of an employees pay is withheld and invested in a tax deferred account
85
auto-enrollment
employee contributions to a 401K plan are started automatically when an employee is eligible to join the plan
86
cash balance plan
retirement program in which benefits are determined on the basis of accumulation of annual company contributions plus interest credited each year
87
deductible
money paid by an insured individual before a health plan pays for any medical expenses
88
copayment
the portion of medical expenses paid by the insured individual
89
managed care
approaches that monitor and reduce medical costs through restrictions and market system alternatives
90
consumer driven health (CDH) plan
health plan that provides employer financial contributions to employees to help cover health related expenses
91
qualifying event
an event that causes a plan participant to lose group health benefits
92
serious health condition
health condition requiring in-patient, hospital, hospice, or residential medical care or continuing physician care

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