W3 Flashcards
It is a fixed regular payment, typically
paid on a daily or weekly basis, made by an
employer to an employee.
WAGE
A reward that an employee
receives for good performance that contributes
to the company’s success.
COMPENSATION
It is a type of compensation that Includes workers’ salaries,
incentive pay, bonuses, and commissions
DIRECT COMPENSATION
It is a type of compensation that Includes benefits given by the
employers other than financial
remunerations
INDIRECT COMPENSATION
It is a type of compensation that Includes recognition
programs, being assigned to do
rewarding jobs, or enjoying
management support, ideal work
environment, and convenient work
hours.
NON FINANCIAL COMPENSATION
A theory of motivation
that predicts that employees are motivated to
work well because of the attractiveness of the
rewards or benefits that they may possibly get.
EXPECTANCY THEORY
Focusing on employees’ response
to the pay that they receive and the feeling that
they receive less or more than they deserve. The
pay given to them is equal to the value of the job
performed
PAY EQUITY
It is a systematic
process whereby the job performance of an
employee is documented and evaluated.
PERFORMANCE EVALUATION
It provides
information that may be used as a basis
for compensation decisions, promotions,
transfers, and terminations.
ADMINISTRATIVE PURPOSES
It provides
information about employees’
performance and their strengths and
weaknesses that may be used as the
basis for identifying their training and
development needs.
DEVELOPMENTAL PURPOSES
Employees unionize
because of financial needs, unfair management
practices, or social and leadership concerns.
EMPLOYEE MOVEMENT
The complaints
regarding wages or salaries and benefits
given to them by the management are
the usual reasons why employees join
labor unions.
FINANCIAL NEEDS
The
unfair and biased managerial actions
are also reasons why they join mass
movements.
UNFAIR MANAGEMENT PRACTICES
