Event Guidelines Flashcards
Salary Schedule
An outline of the pay levels an employee can receive.
Legally Required Benefits
- Social Security
- Medicare
- Family and Medical Leave.
- Workers Compensation Insurance
- Health Insurance (Affordable Care Act)
Fringe Benefits
Extra benefits companies give their employees (Childcare, tuition, employee discount, gym space).
Broad Branding
When a business sets a wider than normal salary range.
Comparable Worth
(AKA Pay Equity) is a way of setting salaries by ranking the value of comparable skills.
Salary Schedule
An outline of pay levels an employee can achieve.
Piecework Plan
A fixed pay rate for each unit produced.
Merit Plan
Type of compensation that a company uses to reward higher-performing employees.
Team-Based Pay
Hourly Rate + Team Bonus
Creates a team based culture. All members drive the company’s productivity rates.
Social Security
A federal program that provides benefits to retirees who paid into the program during their working years.
Independent Contractor
Self-employed individual who enters into a contract to perform work or provide services for another entity.
Negligent
A legal doctrine that holds employers accountable for unlawful acts committed by their employees.
Exempt Employee
An employee who doesn’t receive overtime pay or qualify for minimum wage. They are paid by salary and not by the hour.
Non-exempt Employees
Are guaranteed an hourly wage and overtime pay under the FLSA.
The Privacy Act of 1974
Establishes a code of fair information practices that governs the collection, maintenance, use, and dissemination of personal information about individuals.
