Chapter 11

Question 1

Total employement rewards

Answer 1

An integrated package of all rewards gained by employees arising from their employment

Question 2

5 components of total rewards

Answer 2

1. Compensation
2. Benefits
   NO point knowing this

Question 3

External Equity

Answer 3

Employees percives his or her pay as fair given the pay rates in other organizations

Question 4

Internal equity

Answer 4

Employees perceives his or her pay as fair given the pay rates of others in his/her organization

Question 5

Job Evaluation

Answer 5

A systematic comparison to determine the relative worth of jobs within a firm

Question 6

Benchmark Job

Answer 6

A job that is critical to the firm’s operations or that is commonly found in other organizations

Question 7

Compensable factor

Answer 7

A fundamental compensable element of a job such as skill, effort, responsibility and working conditions

Question 8

Job evaluation committee

Answer 8

A diverse group (including employees, HR staff, managers, and union reps) established to ensure the fair and comprehensive representation of the nature and requirements of the jobs in question

Question 9

Classification/grading method

Answer 9

A method for categorizing jobs into groups

Question 10

Classes

Answer 10

Groups of jobs based on a set of rules for each class, such as amount of independent judgement, skill, physical effort and so forth. Classes usually contain similar jobs

Question 11

Grades are

Answer 11

Groups of jobs based on a set of rules for each grade where jobs are similar in difficulty but otherwise different Grades often contain dissimilar jobs such as secerteries, mechanics etc

Question 12

Grade/ Group description

Answer 12

A written description of the level of compensable factors required by jobs in each grade

Question 13

Point Method

Answer 13

A job evaluation method in which a number of compensable factors are identified the degree to which each of these factors is present in the job is determined and an overall point value is calculated - used in the private sector

Question 14

Pay grade

Answer 14

comprises jobs of approximately equal value

Question 15

Wage/salary survey

Answer 15

A survey aimed at determining prevailing wage rates. A good salary survey provides specific wage rates for comparable jobs. Formal written questionnaire surveys are the most comprehensive

Question 16

Wage cyrve

Answer 16

A graphic description of the relationship between the value of the job and the average wage paid for this job

Question 17

Pay Ranges

Answer 17

A series of steps or levels within a pay grade, usually based on years of service

Question 18

Broadbanding

Answer 18

Reducing the number of salary grades and ranges into just a few wide levels or bands each of which then contains a relatively wide range of jobs and salary levels

Question 19

Pay for knowlege systems are

Answer 19

plans that pay employees for the range, depth and types of knowledge that they are capable of using, rather than for the job that they currently hold

Question 20

Pay Equity

Answer 20

Providing equal pay to male dominated job classes and female dominated job classes of equal value to the employer