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PHR > Total Rewards > Flashcards

Total Rewards Flashcards

1
Q

additional compensation for performance above expectations, paid in addition to base salary

A

Bonus

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2
Q

complex point factor system, evaluated based on knowledge, problem, solving accountability

A

HAY System

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3
Q

shares company profits in form of DC qualified plan, distribute pretax dollars to eligible employees, percentage of base salary

A

Profit Sharing

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4
Q

splits positions in company into just a few specific ranges, lead to greater collaboration by limiting employee focus on hierarchical differences

A

Broadbanding

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5
Q

1) Review job description
2) Select Salary Survey
3) Review compensation components
4) Recommend salary range

A

Job Pricing

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6
Q

salaries based on skills/knowledge, competency profiles replace job descriptions, 10-12 key competencies, increased competence results in higher compensation and places responsibility on employees

A

Competency-Based Compensation

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7
Q

involve employees and managers in improving productivity and sharing benefits of success

A

Gainsharing

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8
Q

reward employees for individual or organizational results, motivates employees to achieve business objectives

A

Variable Compensation

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9
Q

based on length of time employee is in position, years of related experience, entitlement compensation philosophy

A

Seniority Based Compensation

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10
Q

FLSA Exemption Tests

A
  • salary level test (<23,600)
  • salary basis test (cannot be reduced due to lack of work, low quality)
  • duties test (executives, admins, professional, computer related, outside personal)
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11
Q

person designated by plan sponsor to manage plan

A

Plan Administrator

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12
Q

compare value of jobs, subjective, complicated in complex organization

A

Ranking Method

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13
Q

includes merit increases and promotions, based on how well individuals perform against company’s process for measuring

A

Performance Based Compensation

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14
Q

value of jobs to each other relative to their value to organization

A

Internal Equity

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15
Q

process used traditionally to determine value of jobs relative to each other, identify/define compensable factors of each job most relevant to organization

A

Job Evaluation

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16
Q

the spread between the minimum and maximum for job grade, narrow for entry level, wide for highest

A

Pay Range

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17
Q

establishment of baseline for organizational productivity and productivity costs, difference = performance

A

Improshare

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18
Q

esteem achieved from others, working with talented team

A

Extrinsic Reward

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19
Q

employer required by court order/tax levy to withhold additional funds from employee paychecks, satisfy debt owed (child support/back taxes)

A

Wage Garnishment

20
Q
  • prohibits employers from terminating employees whose wages are garnished for one debt with multiple garnishments
  • sets limit on amount garnished any one week
  • defines how disposable earnings are to be calculated
A

Title III of Consumer Credit Protection Act

21
Q

validating existing job descriptions in order to identify the external market rate for each position

A

Benchmarking

22
Q

Security & Exchange Commission Requirements

A
  • disclose how executive pay compares to general pop

- annually report on compensation packages of top 5 executives

23
Q

occurs when new employees hired at rate of pay greater than incumbents for similar skills, education and experience

A

Wage Compression

24
Q

identify key benchmark positions, match to job, classify according to value on vertical scale, associated with grade on hierarchical salary structure

A

Classification Method

25
Q

not associated with wages/salaries, fringe benefits, PTO, holidays, premiums, leaves, SS, pension, FMLA

A

Indirect Compensation

26
Q

percentage of base pay compensates employees for sales targets achieved

A

Sales Bonus

27
Q

what’s left in check after all legally mandated deductions

A

Disposable Earnings

28
Q

provide organization with system of points assigned to position, based on total points received, pay range/grade is assigned

A

Point Factor

29
Q

concept of minimizing pay disparities between jobs traditionally held by women with higher paying jobs traditionally held by men

A

Pay Equity/Comparable Worth

30
Q

encourage to stay with new company during acquisition

A

Golden Life Jacket

31
Q

combines performance rating with position on salary range to recommend increase

A

Merit Matrix

32
Q
  • used to compare employee salaries; take employee base pay and compare to midpoint
  • Base Salary / Midpoint of Salary Range x 100
A

Compa-ratios

33
Q

define term of executive severance agreement

A

Golden Handshake

34
Q

difference between midpoints of consecutive grades, narrower for lower grades, wider for higher grades

A

Midpoint Progression

35
Q

entity that established plan, may be a single employer, labor organization or group representing parties

A

Plan Sponsor

36
Q

paying sales employees percentage of sales price sold

A

Commissions

37
Q

prevents executive from leaving without losing significant money

A

Golden Handcuffs

38
Q

gather benefits and comp data that reflects current trends in labor market

A

Salary Survey

39
Q

tax-qualified, DC plan allows employees to own shares in company, tax deductible trust

A

Employee Stock Ownership Plans

40
Q

allows org to make contributions to nonqualified plan in order to reduce impact of nondiscrimination testing, make up difference between what executive could have contributed and what was allowed

A

Excess Deferral Plan

41
Q

minimize executive risk due to a merger

A

Golden Parachute

42
Q

employees recieve portion of cost savings achieved through productivity gains and cost savings, administered by committees

A

Scanlon Plan

43
Q

encourages self esteem, satisfaction from tasks

A

Intrinsic Reward

44
Q

additional pay for work considered beyond minimum requirements for job

A

Pay Differentials

45
Q

after tax payroll deductions to purchase stock at discounted price

A

Employee Stock Purchase Plans

46
Q

unsecured funds subject to creditor claims, benefits taxable as ordinary income

A

Grantor/Rabbi Trusts

47
Q

payments made to employee associated with wages and salaries, base pay, variable compensation, pay for performance

A

Direct Compensation

PHR (5 decks)

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