Pay Structures
Midpoint, minimum, and maximum are values used to define what?
Pay ranges
This type of pay practice focuses on employees who have achieved the maximum pay rate for their jobs.
Longevity
Paying a dime for every bottle collected and turned to a collection center is an example of
A piecework system
A 401(k) plan is what type of retirement plan?
Defined contribution
For the purpose of applying pay policies, this term refers to the groupings of jobs based on compensable factors and value.
Pay grades
Merit pay systems primarily rely on ________ performance measures
Subjective
Given to employees for exceptional performance as an add-on bonus
The AmeriStar Company tries to influence employee food choices by stocking vending machines with healthy food. They also offer programs to teach stress reduction techniques. Which kind of discretionary benefit program does this company sponsor?
Wellness programs
This type of pay rate applies to an employee who is demoted but is paid more than the maximum rate for the pay grade he is now in.
Red circle
Which performance appraisal error reflects the tendency to rate every employee at the low end of the rating scale, regardless of actual performance?
Severity or errors of strictness
A long-term companywide incentive plan that provides employees with the option to purchase ownership
ESOP
Under which law must former employees be given the choice to continue their coverage, as well as coverage for their spouses and dependents, for up to 18 months?
COBRA
Sam's job has a compa-ratio of 1.3. What does this ratio tell about Sam's pay rate?
Highly competitive/above market
XYZ Movers, a professional relocation company, has 3-person teams for their moving services. The company asks customers to complete a satisfaction survey regarding their recent move. For an employee's performance appraisal, customer satisfaction surveys are also considered in addition to supervisor and team member ratings. What type of appraisal method do they use?
360-feedback
This formula for determining the amount available for profit sharing uses a specific percentage of annual profits contingent upon the successful attainment of a specified profit goal.
Fixed first-dollar-of-profits
Prohibit employers from discriminating in favor of highly compensated employees in contributions or benefits, availability of benefits, rights, or plan features
Nondiscrimination rules
When ________ spreads are used to develop pay grade widths, the grades are based on a set number of job evaluation points for each grade that increases as an employee moves up the pay structure.
Absolute job evaluation point
There are 15 animal keepers working for the XYZ Zoo. Their supervisor is required to rate the performance of these workers based on the following criteria: 30% of the animal keepers will be rated as below-average, 40% of the animal keepers will be rated as average, and 30% of the animal keepers will be rated as above average. What type of performance appraisal is used?
Forced distribution
Incentivizes employees to produce more products with fewer labor hours
Improshare
Evaluate the quality of specific health-care services to ensure that medical treatments are medically appropriate
Utilization reviews