Compensation Laws
This law sets the federal minimum wage and requires overtime pay for eligible workers.
What is the Fair Labor Standards Act (FLSA)?
The department responsible for employee relations, benefits, and hiring.
What is Human Resources (HR)?
This is the total of wages, salaries, and benefits an employee receives.
What is compensation?
This act ensures equal pay for men and women doing the same work.
What is the Equal Pay Act?
Benefits such as health insurance and retirement plans are known as these.
What are fringe benefits?
The regular payment employees receive for work performed, usually quoted annually.
What is a salary?
This law requires employers to provide unpaid, job-protected leave for certain family or medical reasons.
What is the Family and Medical Leave Act (FMLA)?
This type of plan helps employees save money for retirement, often with employer matching.
What is a 401(k) plan?
Non-monetary rewards such as recognition or growth opportunities are called this.
What are intrinsic rewards?
This term describes pay that is based on the number of units an employee produces.
What is piece-rate pay?
A written statement that outlines employee benefits, rules, and workplace policies.
What is an employee handbook?
When pay is tied to performance or results, it’s known as this type of pay.
What is incentive pay?
This law protects workers from losing health insurance coverage after leaving a job.
What is COBRA (Consolidated Omnibus Budget Reconciliation Act)?
HR professionals use this process to attract, screen, and hire qualified job candidates.
What is recruitment?
This principle ensures employees are rewarded fairly based on their contribution.
What is pay equity?