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mgt2435 > module 1 > Flashcards

module 1 Flashcards

1
Q

represents the rewards employees receive for performing their jobs

A

compensation

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2
Q

represents employees’ critical psychological state that result from performing their jobs

A

intrinsic compensation

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3
Q

includes both monetary and nonmonetary rewards

A

extrinsic compensation

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4
Q

refers to the design and implementation of compensation systems to reinforce the objectives of both hr strategies and competitive business strategies

A

strategic compensation

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5
Q

financial capital
equipment capital
human capital

A

competitive business strategy

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6
Q

the use of multiple hr practices to reinforce the competitive business strategy

A

human resource strategies

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7
Q

key to giving employees the necessary knowledge and skill to use new workplace technology effectively

A

pay for knowledge and skill based pay programs

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8
Q

refers to the factors that enable companies to generate income, higher stock prices and economic value and reputation

A

capital

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9
Q

refers to sets of collective skills, knowledge and abilities that employees can apply to create value for the employers

A

human capital

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10
Q

reinforce excellent job performance

A

well-designed merit pay and incentive programs

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11
Q

focus on being the lowest cost producer/seller of goods

A

lowest cost strategy

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12
Q

focus on offering unique goods or service to the public

A

differentiation strategy

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13
Q

core compensation
adjustments to core compensation
legally require employee benefits
discretionary employee benefits

A

focuses of extrinsic compensation

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14
Q

hourly wage

annual salary

A

base pay

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15
Q

skill level
effort
level of responsibility
severity of the working conditions

A

compensable factors

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16
Q 
cost of living adjustments
seniority pay
merit pay
incentive pay
person-focused pay or competency pay
A

how base pay is adjusted over time

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17
Q

represent periodic base pay increases that are founded on changes in prices as indexed by the consumer price index

A

COLAS- cost of living adjustments

18
Q

systems that reward employees with periodic additions to base pay according to employees length of service in performing their jobs

A

seniority pay

19
Q

assumes that employees’ compensation over time should be determined at least in part by differences in job performance

A

merit pay

20
Q

rewards employees for partially or completely attaining a predetermined work objective

A

Incentive

21
Q

rewards managerial, service or professional workers for successfully learning specific curricula

A

pay for knowledge plans

22
Q

is used mostly for employees who perform physical work and increased these workers pay as they master new skills

A

skill-based pay

23
Q

provide family benefits, promote health an guard against income loss cause by such catastrophic factors as unemployment disability or serious illness

A

protection programs

24
Q

provides employee with pay for time when they are not working

A

PTO

25
Q

provides such enhancements as tuition reimbursement and day care assistance to employees and their families

A

services

26
Q

promote worker safety and health
maintain family income
assist families in crisis
provide assistance in case of disability and unemployment

A

legally required benefits

27
Q

determined by employees’ credentials, job knowledge and job performance

A

pay structures

28
Q

based on compensable factors

A

pay grades

29
Q

pay ranges

A

built on grades, uses midpoint min and max pay rates

30
Q 
merit plans
sales compensation plans
broadband structures
two-tier wage structures
executive compensation
contingent worker compensation
expatriate compensation
conpensation structures in countries other than the us
A

alternative pay structure confgurations

31
Q

directly involved in producing companies’ goods or delivering their services such as manufacturing leaders

A

line employees

32
Q

support the line functions, human resource professional and accountants are examples of

A

staff employees

33
Q

report directly to the corporation’s ceo or head of a major division

A

executives

34
Q

perform tasks in a variety of hr-related areas such as involvement in most or all of the compensation functions

A

generalists

35
Q

work within only one of the areas of compensation practice such as compensation survey development

A

specialists

36
Q 
recruitment
relocation
selection
performance appraisal
training
career development
labor-management relations
employment termination
legislation
A

practices implemented by hr professionals

37
Q

employees line managers executives
unions
us govt

A

entities directly affected by compensation practices

38
Q
  • rely on compensation professionals to: develop and implement systematic training programs, inform them of training pay link, and offer discretionary benefits that provide income protection, paid time off, services
A

employees

39
Q

– rely on compensation professionals to ensure knowledge of relevant laws to help make sound compensation judgments, advise for establishing pay differentials and train them how to properly evaluate jobs

A

line managers

40
Q
  • rely on compensation professionals to develop and manage sound compensation systems, insure the company’s practices are legally consistent, sufficiently attractive to recruit and retain
A

executives

41
Q
  • rely on compensation professionals to:a bide by their collective bargaining agreements, ensure they get their COLA adjustments and seniority pay
A

unions

42
Q

the - - requires compensation professionals to: keep updated and comply with all employment legislation, demonstrate that alleged discriminatory pay practices are not in fact discriminatory; or, are a business necessity

A

u.s. govt

mgt2435 (3 decks)

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