Final Exam Flashcards
(44 cards)
Compensation (Local Level)
Conducts wage and salary surveys and communicates wage results to corp. group. Explains pay calcs to employees, understands and explains ‘red circled’ wages and understands overtime and docking rules/guidelines (+union).
Compensation (Corporate level)
Conduct wage and salary surveys relative to recruiting regions, adjust wage scales to ensure external competitiveness, develops annual salary guidelines (% and Bonus levels). Recommend “pay band” changes as competitively needed. Understand COLA (Cost of Living Adjustment) and CPI-W (Consumer Price Index for Workers). Wages must be ‘Internally consistent’ and ‘Externally competitive.’
EEO
Equal Employment Opportunity is a COMMITMENT to hire best qualified candidate for a role, based upon exp., education and skill level regardless of other factors.
AA
Affirmative Action is an ACTION. Actively placing employment opportunities in front of potential applicants ‘where they are most likely to find them.’
FLSA
FLSA
Fair Labor Standard Act (1938) Agencies/bis engaged in interstate commerce/providing goods and services. Guidelines for employment status, child labor, min. wage, overtime pay. Determines “Exempt” v “Non-Exempt.” IF minors can work and WHEN. Sets min wage that must be paid and when overtime has to be paid. City can have higher min wage than state and state than nation.
FMLA
Family and Medical Leave Act (1993) An employee who has met minimum service requirements (12 months of employment with 1250 hours of service in last 12 mos.) can take 12 weeks of unpaid leave for a serious health condition, a family member with one, birth of child or adoption/foster children.
Title VII of the ‘Civil Rights Act of 1964’
Prohibits discrimination on basis of race, color, religion, gender, pregnancy or national origin. Applies to employers w/15 or more employees. Done to level playing field so employers consider only job-related criteria. Must be considering when reviewing applications, interviewing candidates, testing job applicants, considering employees for promotion, transfers or other benefits. No laws protecting LGBT employees atm.
USERRA
Uniformed Services Employment and Reemployment Rights Act (1994) Minimizes an individuals disadvantages when a person is absent from their position in order to serve in the uniformed services. Person maybe be gone (cumulatively) up to 5 years. Returning military personnel must be given equivalent or better job and pay rates compared to departure.
What ARE and what ARE NOT the consequences of a Type I Error in the Least Risk Hiring Model?
ARE: The company misses an opportunity to get a good employee. ARE NOT: You did not relocate them, did not spend money training them, never needed to manage poor performance, never needed to terminate their employment or start over.
What ARE and what ARE NOT the results of a Type II error (hiring an incapable applicant) in the Least Risk Hiring Model?
ARE: “Company consequences.” You relocated them and family and spent time training them (huge cost), had to manage poor performance, terminate their employment and restart the hiring process. ARE NOT: “Human Toll/Employee consequences.” They are frustrated, have suffered damage to self image/low morale, are embarrassed and now need to search for a more suitable job.
Inelastic work
Does not “stretch.” Not able to be performed in a different time or place. Often done in conjunction with other people. May be done in fixed or rotating shifts. “Shift work” is an example. (Call centers, manufacturing sites, hospitals/restaurants).
Elastic work
No rigid parameters, can be performed at nearly any location at various times and is not dependent on others input. (Salespeople, artists). Managerial work is “semi-elastic;” both elastic and inelastic work (HR, IT).
Mediation (ADR)
Non-binding process where neutral party from outside organization hears the case and tries to help the people in conflict arrive at settlement. Rarely used by unions.
Arbitartion (ADR)
Binding process where a professional arbitrator outside organization (usu. lawyer or judge) hears the case and resolves it by making a decision. Usually used by unions.
Communities of Practice
A group of employees who work together, learn from each other, and develop a common understanding of how to get work accomplished.
Diversity Training
Designed to develop skills needed to work with/within and as a part of a diverse workforce.
Experiential Training
Participants learn concepts and apply them by simulating behaviors involved in the learning, and evaluating outcomes.
Case Study
Group of co-workers analyze actual business situation, consider what outcomes were and propose alternative approaches that may result in better business outcomes.
Team Building
Placing a work group together and providing learning activities for the purpose of achieving better work outcomes, solidifying common goals, and improving interactions between team members.
What are the 5 employee benefits required by law?
Social Security, unemployment insurance, workers comp, family and medical leave, cobra.
What does social security combine? Who shares costs? What is the total contribution? How do self-employed individuals contribute? What happens if you hit the FICA cap? How does the government ensure that SS is available for future generations?
Retirement program payments (SS) and Medicare (hospitalization, supplemental, advantage, prescription drugs, B & D have premiums). Employees and employers share through payroll tax, 6.2% from your paycheck under FICA and 6.2% from your company. 2.9% of earnings go to medicare. self-employed pay 12.4% by themselves. If you hit the cap you pocket the rest of the 6.2% (or 3.3%) as take home pay until Jan 1st, bonuses early in year to hit cap earlier. Gov’t must eliminate cap.
How does unemployment insurance work and where do payments come from? What is an experience rating? What conditions must be met to be “unemployed?”
Payments made to unemployed workers as they are finding new jobs. Federal and state taxes on employers, not from paycheck. Company gets an experience rating based on how many employees lays off in a year and this determines tax imposed on employer, careful planning can keep your experience rating low. To be unemployed must demonstrate prior employment, be available for work, be seeking work, and not be discharged for cause, leave voluntarily or be out of work for union strike (labor dispute).
What does cost of workers comp depend on?
Kind of occupations involved, state where company is located, employer’s experience rating. Might have unemployment insurance (employer) or self insured for workers comp. Stop Loss insurance is very costly, kicks in only at highest level of medical liability.
What kind of defined plans are there?
Defined Benefits plan (DB) - Employer sets up pension fund managed by pension committee overseen by board of directors. Employer has to contribute enough money for retirement plan to cover all benefits for future eligible retirees. (ERISA 1974)
Defined Contribution plan (DC) - employer sets up individual account for each employee and specifies amount company may match. Profit-sharing and ESOP might work like this, 503B and 401K most common DC.
