Final review Flashcards
TERM: evaluate employee performance against standards set and help employee develop a plan to improve performance?
performance management
TERM: specific tasks that an employee is responsible for?
performance dimension
TERM: use of a single score to reflect an employees overall performance?
global performance measure
TERM: Evaluation approach by evaluating employees from best to worst along some performance dimension or by virtue of their overall performance?
ranking approach
TERM: evaluation approach where employees are compared with every other employee in their unit?
paired comparison
________ makes it illegal to pay an employee a higher rate based on their gender
Equal pay act
When labor supply is less than labor demand what kind of market is it and what can happen?
- tight labor market
- Wages are generally increased
When determining how to set their level of wages, what should an organization should consider?
Paying at market will help control labor expenses
Organizations use stock related incentive plans in order to?
implement agency theory and encourage employees to think like owners
TERM: Managers can motivate their employees to act in certain ways by aligning their interests with the interests of the firm’s other stakeholders
agency theory
TERM: when an individuals motivation is lessened because their outputs are mixed with a team and become less noticed
social loafing
TERM: When an organization contributes shares of its stock to a trust set up for its employees
Employee stock ownership plan
TERM: A pay adjustment to offset the increases in the price of goods and services to prevent wages from lagging in the market.
cost of living adjustment (COLA)
what is meant by compensation mix?
The amount of base pay versus variable pay
Volvo is an automobile manufacturer which is focused on safety in order to give it a competitive advantage over rival car companies. This emphasis can be described as?
organizational strategy
An employee who feels that they have been discriminated against in the work place should first?
report the incident to their company’s H.R. department so it can be investigated and resolved
A manager can impact how an employee reacts to a perceived injustice most greatly by?
establishing an open and trusting relationship with the employee
TERM: organization which oversees all things related to employee safety on the job?
Occupational Safety and Health Administration (OSHA)
When designing a job, the manager should ask several questions related to?
Tasks
What would cause an organization to increase their starting rate for a position and thereby create wage compression for current employees?
Labor Shortage
How is salary compression viewed?
negative thing by long time employees because their wages are close to those who are new on the job
Disciplinary steps follow what order?
-Termination -verbal -suspension -written
verbal, written, suspension, termination
When a performance evaluation is ________ there are increased concerns about biases based on ethnicity, gender and age.
subjective
The primary goal of incentives is to ________ employees.
motivate
TERM: an incentive that companies use to encourage their employees to work towards specific outcomes?
spot award
What’s the main purpose of recruitment and selection?
hire employees who have the knowledge, skills and abilities to help the company succeed
TERM: Grouping jobs based on similar tasks, duties, responsibilities and qualifications for the purpose of assigning wages
job classification
TERM: Giving an employee a pay increase based on how well they have performed over the course of the last evaluation period
merit increase
When considering whether to use merit pay increases or merit lump sum bonuses, an organization should consider that:
Bonuses generally cost the organization less because the payout doesn’t permanently increase labor costs, but a wage increase would
TERM: level of expected performance
performance standard
TERM: An individual incentive plan in which the level of pay employees receive per unit produced changes at certain levels of output
differential piecework plan
TERM: Marketing concept used in recruitment designed so applicants can differentiate what one company offers to its employees versus what other companies offer
recruitment value proposition
