Week 9 Reward Management Flashcards
What are Intrinsic rewards and extrinsic rewards?
Intrinsic - psychological rewards
extrinsic - tangible rewards
What is reward communication?
providing employees with info about the reward system & outcomes.
What are 2 advantages and 2 disadvantages of reward transparency ?
Advantages:
- gives employees better understanding of pay
- supports trusting work environment
Disadvantages:
- Violates privacy
- fosters jealousy/dissatisfaction
What is comparable worth?
outlines that employees undertaking roles of similar content in different occupations should receive similar levels of pay.
What are the three types of base - pays ?
- job-based pay
- skill-based pay
- competency-based pay
Reinforcement theory promotes the use of incentives, what is this theory ?
proposes that a timely reward for a desired action motivates employees to repeat action. vice versa for punishment.
What is an STI, give definition?
Short-term Incentive
- awarded to individual/group over a period of one year or less
What is an LTI , give definition?
Long-term Incentive
- awarded individual/group over a period of time of usually 3-5 years.
What are 4 types of STI plans ?
- profit-sharing (bonuses)
- gain sharing (group share of incentive)
- goal-sharing (commission)
- team incentives (adaptations of all)
Name 1 type of LTI plan and the 4 forms of rewards that could come from it?
Employee share Ownership plans (EOSP’s)
- capital gain
- dividend earnings
- bonus share issues
- taxation exemptions
What differs in the base pay of expatriates?
it can either be paid in currency of base county, host country or third country national (TCN).
What are expatriates offered to entice them to accept an international posting?
Foreign service premiums. a salary premium is generally offered as a percentage of their salary.
Name 6 allowances considered in the base pay of expatriates ?
- cost of living
- housing
- relocation
- home leave
- education
- spouse assistance
