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
additional payments or benefits provided by employers to employees on top of their regular salary or wages.
Allowances
Types of incentives
Compensation incentives
* Recognition incentives
* Rewards incentives
* Appreciation incentives
referred to simply as incentives, are financial or non-financial rewards that organizations offer to employees as a means of motivating them to achieve specific performance goals, enhance productivity, and align their efforts with the company’s objectives.
Compensation incentive
These incentives focus on providing recognition and praise to individuals or teams, rather than offering financial rewards.
Recognition incentives
a contractual worker serves a
particular company for a limited period that is anchored on a project
(project-based) or fixed term, most often not exceeding six months.
End of contract (ENDO)
stands as the law governing
employment practices and labor relations in the Philippines
The Labor Code of the Philippines
otherwise known as the “Wage Rationalization Act”
R.A. 6727
This is a cash benefit granted to covered employees who are
involuntarily separated from employment. It is provided under
Republic Act No. 11199 or Social Security Act of 2018.
Unemployment benefit
All laid-off employees covered by the SSS are qualified to avail of the
unemployment benefit. T OR F
TRUE
