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MNGT 433 > Exam 1 > Flashcards

Exam 1 Flashcards

1
Q

Incentive Effect

A

o Degree to which pay influences motivation

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2
Q

Incentive Effect

A

o Degree to which pay influences motivation

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3
Q

Sorting effect

A

o Effect pay has on the composition of the workforce

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4
Q

Direct Returns

A

Total compensation (cash and benefits)

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5
Q

Indirect returns

A

Relational, (recognition, opportunity)

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6
Q

Merit is based on?

A

Changes in others pay, living costs, and experience or skill

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7
Q

Merit pay

A

increases base salary, but meritbonus is aone time payment

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8
Q

Incentives are

A

objective and don’t increase base salary, must eb reearned

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9
Q

Pay Model Objectives

A

Efficiency, Fairness, Compliance, Ethics

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10
Q

Pay Model Policies

A

Internal alignment, external competition, employee contributions, management

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11
Q

Sorting effect

A

o Effect pay has on the composition of the workforce

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12
Q

Direct Returns

A

Total compensation (cash and benefits)

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13
Q

Indirect returns

A

Relational, (recognition, opportunity)

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14
Q

Merit is based on?

A

Changes in others pay, living costs, and experience or skill

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15
Q

Merit pay

A

increases base salary, but meritbonus is aone time payment

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16
Q

Incentives are

A

objective and don’t increase base salary, must eb reearned

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17
Q

Pay Model Objectives

A

Efficiency, Fairness, Compliance, Ethics

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18
Q

Pay Model Policies

A

Internal alignment, external competition, employee contributions, management

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19
Q

Best practice

A

Socio, HRRp, Strat Form, Gainign comp adv

20
Q

Best fit

A

Socio, Strat form, HRP, gaining comp adv

21
Q

AMO Theory

A

Ability,, MOtivation, Opportunity, P=f(A,M,O)

22
Q

SAS Institute Hr Policy

A

work/life programs > cash compensation

23
Q

RBV must

A

add value
unique and rare
imperfectly imitable
not substitutable

24
Q

Internal Alignment

A

is pay relations among jobs/skills in an organization

25
Q

External Competitive ness includes:

A

Econmic Pressures
Government policies and regulations
External stakeholders
cultures and customs

26
Q

Three features of internal pay structure

A

Hierarchal or compressed
How to distribute
Work content

27
Q

Hierarchal (layered, dispersion)

A

Description of work done at each level, incentive effect ( lower turnover)

28
Q

Egalitarian (delayered, compression)

A

Removing job titles, negative or detrimental sorting effect

29
Q

Two features of external competitiveness

A

Pay level - Avg rate an employer pays

Pay mix- various types of payments leading to total comp

30
Q

Mods to labor demand side

A

Compensating differentials - employers offer higher wages if job has negative characteristics
Efficiency wage - high wages increase efficiency and lower labor costs
Signaling theory - pay levels to emplpyee signaling behavior

31
Q

Mods to labor supply side

A

Reservation wage - lowest wage they’ll accpet

Human Capital - people paid at marginal value of what they provide

32
Q

Competitive pay policies

A

Lead, match, lag

33
Q

Job analysis

A

systematic process of collecting observable info that identifies similarities and differences between work

34
Q

Job Description

A

Tasks, duties, responsiblities

35
Q

Job specification

A

KSAO necessary for the job

36
Q

Job analysis to compensation

A

Internalyl fair and aligned job structure, provides rationale for differences

37
Q

Enhance flexibility in job design

A

Broad descriptions, easily changing tasks

38
Q

Usefulness of job analysis

A

Reliability, validity, acceptability, currency, usefulness

39
Q

Job evaluation

A

Process for dtermining the relative value of jobs to create a job structure

40
Q

Job eval methods

A

ranking, classification, point

41
Q

Ranking

A

Alternation, orders alternaitng at each extreme

Paired, matrix compares all jobs

42
Q

Classification

A

Jobs -> Class

43
Q

Point

A

Compensable factors numerically scaled and weighted

44
Q

Skill-based pay

A

Link pay to depth and breadth of the KSAO relevant person

45
Q

Competency based pay

A

Underlying KSAO needed to succeed

MNGT 433 (1 decks)

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