Reviewer Flashcards
It is the minimum compensation received by an employee excluding benefits, allowances, incentives and bonuses. It is purely financial and can be expressed as an hourly rate, monthly or annual salary.
A. Base pay
B. Pay compression
C. Wages
D. Job Evaluation
Base pay
It is the process of analyzing and assessing various jobs systematically to ascertain their relative worth in an organization. It is an assessment of the relative worth of various jobs on the basis of a consistent set of job and personal factors, such required qualifications and skills required
A. Base pay
B. Pay compression
C. Wages
D. Job Evaluation
- Job evaluation
It is a systematic way of determining the value/worth of a job in relation to other jobs in an organization. It tries to make a systematic comparison between jobs to assess their relative worth for the purpose of establishing a rational pay structure
A. Base pay
B. Pay compression
C. Wages
D. Job Evaluation
- Job evaluation
Also known as wage or salary compression, is pay differential that results from various causes, but that is often deemed as unfair or unequal by members of a workforce. It is an issue that many recruiters and human resources professionals deal with on a regular basis
A. Base pay
B. Pay compression
C. Wages
D. Job Evaluation
- Pay compression
It can be simply understood as the criteria used to evaluate a job and on the basis of which salary/wages of the employee is computed. It is like the organization is willing to pay based on certain must have competencies or other eligibility factors.
A. Compensable Factors
B. Pay compression
C. Wages
D. Job Evaluation
- Compensable factors
It refers to a defined amount of money given to an individual for work or services which is given on a daily or weekly basis
A. Base pay
B. Pay compression
C. Wages
D. Job Evaluation
Wages
the wages paid according to the work done by the worker. The number of units produced by the worker are taken into consideration
A. Piece Wages
B. Cash Wages
C. Wages in kind
D. Time wages
Piece Wages
It refer to the wages paid to the labour in terms of money. The salary paid to a worker
A. Piece Wages
B. Cash Wages
C. Wages in kind
D. Time wages
Cash Wages
When the labourer is paid in terms of goods rather than cash. These types of wages are popular in rural areas.
A. Piece Wages
B. Cash Wages
C. Wages in kind
D. Time wages
Wages in Kind
Under this type, the wages are fixed in the beginning for complete work. For instance, if a contractor is told that he will be paid Rs. 25,000 for the construction of building
A. Piece Wages
B. Cash Wages
C. Wages in kind
D. Contract wages
Contract Wages
It is the portion of sales compensation determined by employee performance. When employees hit their goals (aka quota), is provided as a type of bonus, incentive pay, or commission
A. Direct Compensation
B. Variable Pay
C. Extrinsic motivation
D. Indirect Compensation
Variable pay
It refers to the compensation that an employee receives directly from his or her place of work. This includes the base salary and any incentive pay. The form of wages, salaries, commissions and bonuses that an employer provides regularly and consistently.
A. Direct Compensation
B. Variable Pay
C. Extrinsic motivation
D. Indirect Compensation
- Direct compensation
It refers to the non monetary benefits provided to the employees by the organization they serve. It is calculated as an additional component to the base salary figure such as non-monetary benefits provided to workers, such as pension funds, mobile phones, company cars, health and life insurance, overtime pay, and annual leave.
A. Direct Compensation
B. Variable Pay
C. Extrinsic motivation
D. Indirect Compensation
Indirect compensation
____ rewards include things such as: personal achievement, professional growth, sense of pleasure and accomplishment
A. Direct Compensation
B. Intrinsic rewards
C. Extrinsic motivation
D. Indirect Compensation
Intrinsic rewards
It is a tangible and visible reward given to an individual or an employee for achieving something. They usually have monetary value such as a salary hike, bonus, award, or public recognition.
A. Direct Compensation
B. Intrinsic rewards
C. Extrinsic motivation
D. Indirect Compensation
Extrinsic motivation
It is defined as the decided monetary amount that an employer offers an employee in lieu of the services offered by the employee. This amount of money is revised on periodic intervals on the basis of the employee’s performance
A. Salaries
B. Job Design
C. Job rotation
D. Job specification
Salaries
It is a psychological theory of motivation that is defined as the systematic and purposeful allocation of task to groups and individuals within an organization.
The five core characteristics are skill variety, task identity, task significance, autonomy, and job feedback
A. Salaries
B. Job Design
C. Job rotation
D. Job specification
Job design
It is the process of organizing work as group of tasks, arranging and defining the job process and structure at the workplace depending on the job analysis performed. It takes into account the organizational objectives to be achieved along with trying to minimize on–the-job fatigue, stress and human error.
A. Salaries
B. Job Design
C. Job rotation
D. Job specification
- Job design