LESSON 4 MIDTERMS Flashcards
Includes direct cash payments, indirect payments in the form of
employees to strive for higher levels of productivity
Compensation
Maslow hierarchy of needs
Self-actualization
Self-esteem
Love and belonging
Safety
Physiological
McClelland Needs Theory
Need of achievement
Need of Power
Need of affiliation
Goal Setting Theory of Motivation, Edwin
Lock
Clarity
Challange
Compliment
Feedback
Task Complexity
Reinforcement Theory of Motivation “Law of
Effect”
Positive reinforcement
Negative reinforcement
Punishment
Extinction
Is a physiological process that begins with a need that
transforms into a goal which in turn directs an
employee behavior, the motives can be primary,
secondary or general that are derived from intrinsic
and extrinsic sources.
Motivation
Is a system that
determines how much an employee is to be paid as a wage or salary.
It indicates the rates of pay for different jobs
* It provides scope of pay progression via performance, competence,
contribution, skills or service.
* Contains pay ranges for jobs grouped into grades, individual jobs or
job families.
Pay structures
Types of pay structure
- Graded structure
- Broadband
- Job family structures
is a compensation system used by organizations, particularly in the public sector and some private sector industries, to determine employees’ salaries or wages based on a predetermined set of pay grades or levels.
Graded structure
is a method of designing a compensation system in organizations that consolidates multiple salary grades or pay levels into a fewer number of broader pay bands or salary ranges
Broadband
is a compensation system used by organizations to categorize and group related jobs or positions based on similarities in skill sets, responsibilities, and job roles.
Job family structures
refers to a method of compensation or payment where an individual receives their income or compensation directly from an employer or payer, without intermediaries or third parties involved in the payment process.
Direct pay system
refers to the non-monetary rewards and benefits that employees receive from their employer in addition to their regular salary or wages.
Indirect compensation
Pay Types
- Salary and Hourly
- Commission
- Overtime
- Tips
- Bonuses
- Allowances
- Per diem
is a compensation arrangement in which employees are paid a fixed, daily rate for work-related expenses incurred while they are on business travel or working away from their usual place of employment.
Per diem