Chapter 7
_relies on paying employees that is perceived to be fair based on what they market is paying.
External equity
__________ is a strategic process that helps companies plan for future human resources that are needed to support the growth or downsizing of production demands.
HR Planning
___________________________determines the value of a job by calculating the total points assigned to it. The points given to a specific job are called compensable factors.
Point factor position
Some of the benefits are ________________ and they are provided by the employer due to the laws and the provincial regulations.
mandatory
A compensation package should be positive enough to attract the best people for the job.
TRUE
Pay is the only the monthly salary an employee earns.
FALSE
it's the hourly, weekly
Employer supported programs include flexible working hours, onsite gyms and daycares, and time promote a __________?
Work-Life Balance
___________ this is when an employee resigns, retires or dies. It is initiated by the employee. A position is created at the company and needs filled by a new hire.
Attrition
_________is defined as the process of determining the relative worth of jobs to determine pay structure. Job evaluation can help us determine if pay is equitable and fair among our employees.
job evaluation
In a____________ system, every job is classified and grouped based on the knowledge and skills required for the job, years of experience, and amount of authority for that job
job classification
The Expectancy Theory is another key theory in relation to pay. The expectancy theory says that employees will put in more work as what they expect to receive in return for it.
false
The employees will put in as much work as they are expected to receive in return for it.
____________ is an action or a decision that treats a person or a group badly for reasons such as their race, age or disability.
Discrimination
Once the job evaluation as been performed, Human Resources can move on to________________
pay gradimg
____________often called a pay-for-performance incentive, is given for meeting certain performance standards, such as meeting sales targets.
An incentive
A person who uses a wheelchair and is told they were not qualified for the job is an a example of what kind of discrimination?
Direct Discrimination
Life insurance, extended life insurance, retirement benefits, RRSP are all examples of _____________
voluntary benefits
Skill based pay, competency based pay, broadbanding, and variable pay system are all types of ____________
compensation strategy
_________ is an example of what can be done when there is labour shortage in a company. (Multiple Answers acceptable)
Hiring New Employees, Contract Workers, Outsourcing, Crowdsourcing and Overtime
Pay equity refers to equal pay for equal work when similar jobs are performed, and where men and women are completing the same work.
TRUE
_______________: the process of determining the relative worth of jobs to determine pay structure.
Job evaluation