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MGT 3102-HR > Exam 3 > Flashcards

Exam 3 Flashcards

1
Q

the monetary and nonmonetary rewards employees receive in exchange for the work they do for an organization

A

compensation

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2
Q

the sum of all the aspects of a compensation package (base pay, incentives, benefits, perks, and so forth) that signal to current and future employees that they are receiving more than just base pay in exchange for their work

A

total rewards

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3
Q

communicates information to employees about what is valued within an organization, enhances the likelihood of consistency in pay across the organizational units, and helps attract, motivate, and retain employees

A

compensation philosophy

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4
Q

the theory that employees compare their input (work effort) and outcome (wages) levels with those of other people in similar situations to determine if they are being treated the same in terms of pay and other outcomes

A

equity theory

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5
Q

occurs when each job in a company is valued appropriately relative to every other job in terms of its ability to help the firm achieve its goals

A

internal alignment

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6
Q

the systematic process of establishing the relative worth of the jobs within the company

A

job evaluation

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7
Q

a type of job evaluation that involves reviewing job descriptions and listing the jobs in order, from highest to lowest worth to the company

A

job ranking

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8
Q

a type of job evaluation that involves developing broad descriptions for groups of jobs that are similar in terms of their tasks, duties, responsibilities, and qualifications for the purpose of assigning wages

A

job classification

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9
Q

a quantitative method of job evaluation that involves assigning point values to jobs based on compensable factors to create a relative worth hierarchy for jobs in the company

A

point method or point factor method

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10
Q

an aspect of jobs, such as skill, effort, responsibility, and working conditions, that exist across jobs in a company, are needed by employees for the firm to achieve its objectives, and for which the company is willing to pay

A

compensable factor

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11
Q

a job that is used to represent the range of jobs in a company and that can be used for comparison with jobs in other companies for the purpose of establishing pay rates

A

benchmark job

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12
Q

a grouping of jobs with comparable points together to reflect the hierarchy of jobs within a company for the purpose of establishing wage rates

A

job grade

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13
Q

a quantitative type of job evaluation that involves ranking benchmark jobs in relation to each other on each of several factors, such as mental requirements, physical requirements, skill, responsibility, and working conditions, and then assigning a portion of the hourly rate for each job to each factor

A

factor comparison

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14
Q

ensuring pay rates for jobs in a company are appropriately aligned relative to pay rates for similar jobs in the company’s external labor market

A

external competitiveness

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15
Q

a systematic process for collecting information about wages in the external labor market

A

salary survey

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16
Q

the systematic process of assigning monetary rates to jobs so that a firm’s internal wages are aligned with the external wages in the marketplace

A

job pricing

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17
Q

the market line that represents the relationship between the job evaluation points and the salaries paid for the various jobs in the labor market

A

wage curve or pay policy line

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18
Q

sets the organization’s policy line at the middle of the market

A

match policy (follow)

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19
Q

the organization intends to pay somewhat above the market rate in valuing employees as a competitive advantage

A

lead policy

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20
Q

the organization intentionally pays below the market

A

lag policy

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21
Q

an approach used to reduce the complexity of a compensation system by consolidating a large number of pay grades into a fewer number of broad grades (or bands)

A

broadbanding (career banding)

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22
Q

jobs for which the person in the job is being paid above the maximum wage for that pay grade

A

red circled jobs

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23
Q

jobs for which the person’s salary is below the minimum of the range

A

green circled jobs

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24
Q

systems that require employees to acquire certain skills in order to receive a pay increase

A

skill-based pay

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25
Q

systems that require employees to acquire certain knowledge in order to receive a pay increase

A

knowledge-based pay

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26
Q

a highly structured pay system that identifies the competencies employees need to master to be eligible for pay raises

A

competency-based pay

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27
Q

a method for determining pay for jobs by collecting salary information from the external labor market first, rather than starting with the development of an internal structure based on the value of the jobs within the company

A

market pricing

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28
Q

direct payments such as salary wages and bonuses, and indirect payments such as payments to cover benefits and services

A

monetary compensation

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29
Q

the wage or salary an employee receives, exclusive of any incentive pay or benefits - is predictable and fixed

A

base pay

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30
Q

payments contingent on the performance of the employee, his/her work group, or overall company performance

A

variable pay

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31
Q

Forms of social and psychological rewards—recognition and respect from others, enjoyment from doing the job itself, opportunities for self development

A

non-monetary compensation

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32
Q

pay rates are established for

A

jobs not people

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33
Q

commonly used to establish pay rates but requires significant adjustment in the long run because it lacks an overarching compensation strategy/philosophy/structure

A

market pricing

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34
Q

four types of job evaluation

A

job ranking, job classification, point factor method, factor comparison

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35
Q

exists when employees feel they are being paid fairly relative to what people in similar jobs (or with similar competencies) are paid by other employers

A

external equity

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36
Q

specifies the pay rates that will be used for the jobs in a particular organization

A

organization pay policy

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37
Q

employers cannot pay lower wages to employees of one gender than it pays to employees of the other gender, employees within the same establishment for equal work at jobs that require equal skill, effort, and responsibility, and that are performed under similar working conditions

A

Equal Pay Act (EPA)

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38
Q

most commonly, refers to the median annual pay of all women who work full time and year-round, compared to the pay of a similar cohort of men

A

gender pay gap

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39
Q

What does the Fair Labor Standards Act (FSLA) do?

A

establishes a minimum wage, sets what constitutes a work week and overtime requirements for pay, defines exempt vs. non exempt employees, restricts use of child labor

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40
Q

exempt employees

A

employees that meet the requirements and are exempt from FSLA so that employers do not have to pay overtime

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41
Q

non exempt employees

A

employers have to pay overtime for these

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42
Q

3 tests for exempt vs. non exempt

A

salary level test, salary basis test, and duties test

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43
Q

strategic importance of performance based pay

A

use pay to align individual goals with strategic objectives, can change and direct employee behavior, managing labor costs

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44
Q

four types of performance based pay

A

merit pay, recognition awards, incentive pay, and earnings-at-risk pay

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45
Q

employees receive a compensation adjustment based on results of their performance evaluation

A

merit pay programs

46
Q

one-time payment for performance not rolled into employees’ salaries

A

lump-sum merit bonuses

47
Q

reward employees for future performance

A

piecework incentive plans

48
Q

receive a certain rate of pay for each unit produced

A

straight piecework plan

49
Q

the pay received per unit produced changes at certain levels of output

A

differential piecework plan

50
Q

pay rate set based on expected amount of time an employee needs to complete task; if employees exceed minimum, they will receive a premium for higher level of work

A

standard hour plan

51
Q

used to encourage employees to work toward specific outcomes; Manager gives awards “on the spot” when they see certain behaviors exhibited by employees; Can be cash or non-cash; Recognition programs like employee-of-the-month can also be used; Peer-to-peer recognition programs

A

recognition awards

52
Q

employee have part of their salary tied to sales

A

sales incentive plans

53
Q

pays an employee a percentage of the total sales they generate

A

straight commission plan

54
Q

employees receive a set compensation, regardless of their level of sales (employees may not be as motivated to sell as much as they can)

A

straight salary plan

55
Q

employees receive a lower base salary (50%) and the remaining is commission based

A

mixed salary/commission plan

56
Q

all members are rewarded when team reaches or exceeds its target objectives; downside is the potential for “free riders”

A

team incentive plans

57
Q

designed to help increase a company’s efficiency by rewarding teams that exceed productivity levels with a share of the gains realized

A

gain sharing plans

58
Q

company profits are shared with employees

A

profit sharing plans

59
Q

a % of profits distributed quarterly or annually

A

current distribution plans

60
Q

funds are distributed at retirement, termination, death, or disability

A

deferred distribution plans

61
Q

combination of current & deferred

A

combined plans

62
Q

involves stocks

A

ownership plans

63
Q

provides employees the right to purchase shares of their company stock at some established price for period of time

A

stock option plans

64
Q

plans that apply widely to a firm’s employees

A

broad-based stock option

65
Q

company contributes shares of its stock to a trust set up for its employees

A

employee stock ownership plan (ESOP)

66
Q

the trust borrows against the company’s future earnings and as debt is repaid, employees receive shares of stock from trust

A

leveraged ESOP

67
Q

in-kind (noncash) payments to employees for their membership or participation in the organization

A

employee benefits

68
Q

provides all employees with a base benefits package then allows employees to choose additional benefits from a wide array of options

A

flexible benefits plan

69
Q

provides different types and levels of benefits depending on an employee’s location and position in the organization

A

targeted benefits plan

70
Q

examples of legally mandated benefits

A

social security insurance, unemployment compensation benefits, workers compensation and disability insurance, family and medical leave, the patient protection and affordable care act employer shared responsibility provisions

71
Q

examples of voluntary benefits

A

retirement savings plans and pensions, health care benefits and services, wellness programs, employee assistance programs, paid leave, work-life benefits and services

72
Q

enacted in 1935 as a forced savings plan intended to provide older Americans with a reliable source of income in retirement

A

social security

73
Q

the age at which a person may first become entitled to unreduced retirement benefits – depends on when you were born

A

full retirement age

74
Q

what is the full retirement age for those born after 1960

A

67

75
Q

Is an insurance program providing unemployment compensation as income for employees who lose their jobs at no fault of their own

A

unemployment insurance

76
Q

Covers medical costs and lost income due to work-related injuries/illnesses

A

workers compensation insurance

77
Q

parts of the Family and Medical Leave Act (FMLA)

A

Required to grant up to 12 weeks of unpaid leave annually; Employee keeps preexisting health coverage and must be allowed to return to same or equivalent job

78
Q

what do voluntary benefits focus on

A

health, wellness, and welfare
work-life balance management
retirement benefits

79
Q

percentage of union membership in the us

A

about 11%

80
Q

reasons for decline in union membership

A

globalization resulted in manufacturing (a heavily unionized industry) moving abroad, job growth in service sector, small businesses, and professional services, anti union tactics by employers, workers are more capable of negotiating better workplace conditions for themselves, progressive HR policies, departments, and war on talent substituting the need for unions

81
Q

what do unions do and advocate

A

Works and negotiates with management things employees care about: raises, affordable health care, job security, safety

82
Q

Most important piece of labor relations legislation in the U.S.; passed to Protect rights of both employees and employers, Encourage parties to engage in collective bargaining, Control activities so economy wouldn’t be adversely affected; established the national labor relations board (NLRB)

A

Wagner Act (National Labor Relations Act of 1935)

83
Q

employee rights

A

To form, or attempt to form, a union in the workplace
To join a union, even if it’s not recognized by the employer
To assist in union-organizing efforts
To engage in group activities (collective bargaining) such as attempting to modify wages or working terms and conditions
To refuse to do any or all of above unless clause requiring employees to join union exists

84
Q

employer rights

A

Correct inaccurate statements made by union organizers
Inform employees of the effects of unionization on the company
Say that the company is opposed to the union
Give information about the union, its officers, fees, collective bargaining process etc.

85
Q

employers cannot

A

Forbid employees to solicit other employees during breaks, off-duty time, in non-working areas
Ban the wearing of union buttons or shirts without a valid business reason.
Spy on employees or ask other employees to spy on others
Forbid union representatives from entering the premises if public is permitted
Prohibit discussion among employees during work time if other discussions are permitted

86
Q

protects the rights of employees and employers, encourages these parties to engage in collective bargaining, and controls their activities so the economy won’t be adversely affected by their actions; also established the National Labor Relations Board (NLRB)

A

Wagner Act (National Labor Relations Act (NLRA))

87
Q

when two or more nonunion employees act together to try to improve working conditions, or when a single employee approaches management after conferring with other employees on their behalf or is acting on behalf of other employees

A

concerted activity

88
Q

a violation of the NLRA that denies rights and benefits to employees; can be the result of employer or union activity

A

unfair labor practice (ULP)

89
Q

an agency of the US government that was created by Congress to administer the National Labor Relations Act (NLRA)

A

National Labor Relations Board (NLRB)

90
Q

protects the rights of employees and makes the NLRB a more impartial referee for industrial relations, rather than having it serve as an advocate for organized labor

A

Taft-Hartley Act (Labor Management Relations Act)

91
Q

laws that prevent workers from having to join a union as a condition of employment, be prevented from joining a union as a condition of employment, be forced to pay dues to a labor union, or be fired for not paying such dues

A

right-to-work laws

92
Q

requires workers to join a union before they can be hired and requires employers tot go to the union first to hire new employees

A

closed shop

93
Q

an arrangement under which all workers except managers in an organizational unit represented by a union have to become members of that union within a certain period of time after being hired, or at least pay the equivalent of union dues

A

union shop

94
Q

a labor union arrangement under which employees cannot be required to join a union but can be required to pay to a union an agency fee for purposes such as initiation

A

agency shop

95
Q

a strike or lockout that affects an entire industry, or a substantial part of it, and national health and safety are imperiled

A

national emergency strike

96
Q

a group of employees designated by the National Labor Relations Board or identified by the union and employer together as eligible to participate in a union election

A

bargaining unit

97
Q

also knowns as signature card; document indicating that an employee is interested in being represented by a union

A

union authorization card

98
Q

a list of names and addresses the company must supply of employees who are eligible to vote in the representation election fo a union

A

excelsior list

99
Q

a process whereby a company recognizes a union has produced evidence that the majority of workers have signed authorization cards indicating that they want the union to represent them

A

card check

100
Q

an arrangement in which a company agrees that it will not express its views about unionization during the time when signatures are collected

A

neutrality agreement

101
Q

the process that labor unions and employers use to reach agreement about wages, benefits, hours worked, and other terms and conditions of employment

A

collective bargaining

102
Q

the process that requires parties to meet at a reasonable time and come to the bargaining table ready to reach a collective bargaining agreement

A

good faith bargaining

103
Q

topics that must be negotiated, including compensation and benefits, hours of employment, and other conditions of employment

A

mandatory bargaining topics

104
Q

non-mandatory issues, such as employee rights, managerial control, and benefits for retired union members, that are often part of the collective bargaining negotiations and agreement

A

permissive topics

105
Q

entering into a collective bargaining situation with no intention of reaching an agreement, or in some other way violating the protocol for appropriate collective bargaining

A

bad faith bargaining

106
Q

a negotiation strategy in which each party takes a defensive position during the bargaining session resulting in a winner and a loser

A

distributive bargaining strategy

107
Q

a negotiation strategy in which each party cooperates and works to reach a win win outcome

A

integrative bargaining strategy

108
Q

an extension of integrative bargaining in which each party looks for common goals in order to meet the interests of the other party

A

interest-based bargaining

109
Q

the situation in which both parties have made their final offers and are not willing to make further concessions

A

impasse

110
Q

a method of resolving disputes in which a third party acts as an intermediary and actually makes the decision about how the issue should be resolved

A

arbitration

111
Q

the arrangement whereby an outside party works with each side in a negotiation to reach an acceptable agreement

A

mediation

112
Q

a type of facilitation used when an impasse occurs in a collective bargaining session so that both parties keep working toward an agreement until they can resolve the issues at hand

A

conciliation

MGT 3102-HR (3 decks)

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