Study for Test on 7,8,9, & 10 Flashcards
T&D method -participant is asked to establish priorities for and then”handle a number of business” papers, email messages, memoranda, reports, and telephone messages that would typically cross a manager’s desk
In-Basket training
Performance appraisal method that combines elements of the “traditional rating scale and critical incident” methods: various performance levels are shown along a scale
Behaviorally anchored rating scale method
Performance appraisal method that requires keeping written records of highly favorable and unfavorable employee work actions
Critical incident method
Learning that goes “beyond” today’s job and has a more long term focus
Development
Performance appraisal method in which the rater is required to assign individuals in a work group to a “limited number” of categories, similar to a normal frequency distribution.
Forced distribution method
T&D method that permits a person to learn by copying or replicating “behaviors” of others to show managers how to handle various sitations
Behavior Modeling
Approach to advising, coaching, and nurturing, for creating a practical relationship to enhance individual career, personal, and professional growth and development.
Mentoring
Performance appraisal method in which the rater “ranks” all employees from a group in order of overall performance
Ranking method
Performance appraisal method that “rates” employees according to defined factors
Rating scales method
Activities designed to provide learners with the knowledge and skills needed for their present jobs
Training
Involves evaluation input from multiple levels within the firm as well as external sources
360-degree feedback method
An informal approach to training that permits an employee to learn job tasks by actually performing them
On-the-job-training (OJT)
the key to on-the-job-training is to transfer knowledge from highly skilled and experienced worker to a new employee, while maintaining the productivity of both workers.
True
The first step of performance appraisal process involves identifying specific performance goals
True
Rapidly changing technology plays a significant role in how training and development programs are delivered to employees
True
If organizations consider “Ends” more important than “Means” goal achievement should be a factor in performance appraisal
True
T&D is the heart of a continuous effort designed to improve employee competency and organizational performance
True
total of all rewards provided to employees in return for their services
compensation
pay that a person receives in the form of wages, salary, commissions, and bonuses
direct financial compensation
all financial rewards that are not included in direct financial compensation (paid vacation & medical benefits)
indirect financial compensation (Benefits)
satisfaction that a person receives from the job itself or from the psychological and or physical environment in which the person works.
non-financial compensation
motivation theory that people assess their performance and attitudes by comparing both their contributions and benefits of comparison others whom they select- and who in reality may or may not be like them
equity theory
perception of fair pay treatment for employees
financial equity
equity that exists when a firm’s employees receive pay comparable to workers who perform similar jobs in other firms.
external equity
equity that exists when employees receive pay according to the relative value of their jobs “within” the same organization
internal equtiy
equity that exists when individuals performance similar jobs for the same firm receive pay according to factors “unique to the employee”, such as performance level of seniority
employee equity
equity that is achieved when teams are rewarded based on their group’s productivity
team equity
“policy” that provides general guidelines for making “compensation” decisions
compensation policy
organizations that pay higher wages and salaries than competing firms
pay leaders
average pay that most employers provider for a similar job in a particular area of industry
market (going) rate
companies that choose to pay below the going rate because of a poor financial condition or a belief that they do not require highly capable employees
pay followers
potential employees located within the geographic area from which employees are recruited
labor market
a means of obtaining data regarding what other firms are paying for specific jobs or job classes within a given labor market
compensation survey
escalator clause in a labor agreement that automatically increases as the US Bureau of labor statistics
cost-of-living allowance (COLA)
employees categorized as executive, administrative, professional, or outside salespersons
exempt employees
process that determines the relative value of one job in relation to another
job evaluation
job evaluation method in which the raters examine the description of each job being evaluated and arrange the jobs in order according to their value to the company
job evaluation ranking method
job evaluation method in which classes or grades are defined to describe a group of jobs
classification method
job evaluation method that assumes there are five universal “factors” consisting of mental requirements, skills, physical requirements, responsibilities, and working conditions; the evaluator makes decisions on these factors independently
factor comparison method
job evaluation method in which the raters assign numerical values to specific job factors, such as knowledge required, and the sum of these values provides a quantitative assessment of a job’s relative worth
point method
refined version of the point method used by approximately 8,00 public and private-sector organizations worldwide to evaluate clerical, trade, techincal, professional, managerial, and or executive-level jobs
Hay Plan- hay group guide chart-profile method
placing a dollar value on a job’s worth
job pricing
grouping of similar jobs to simplify pricing jobs
pay grade
fitting of plotted points to create a smooth progression between pay grades
wage curve (pay curve)
minimum and maximum pay rate with enough variance between the two to allow for a significant pay difference
pay range
compensation technique that collapses many pay grades into a few wide bands to improve organizational effectiveness
broadbanding
pay increase added to employees’ base pay based on their level of performance
merit pay
one-time annual financial award, based on productivity that is not added to base pay
bonus
relatively small monetary gifts provided to employees for outstanding work or effort during a reasonably short period of time.
spot bonus
incentive plan plan in which employees are paid for each unit they produce
piecework
system that compensates employees for their job-related skills and knowledge, not for their job titles
skill-based pay
compensation plan that rewards employees for the capabilities they attain
competency-based pay
length of time an employee has been associated with the company, division, department, or job.
seniority
situation that occurs when less experienced employees are paid as much as or more than employees who have been with the organization a long time due to a gradual increase in starting salaries and limited salary adjustment for long-term employees
salary compression
compensation plans that result in the distribution of a predetermined percentage of the firm’s profits to employees
profit sharing
plans designed to bind employees to the firm’s productivity and provide an incentive payment based on improved company performance
gainsharing
