Direct Pay
A major tool for making wage-level decisions
What is a compensation survey? p17
Systematic approach to determine the relative worth or value of each job
A theory of motivation based on a hiearchy that includes physiological, safety, social, esteem and self-actualization
What is Maslow's Hierarchy of Needs? p56
the right to buy a company's stock at a certain price over a period of time
unemployment, workers' compensation and Social Security
What are mandatory benefits? pp125-129
restricts employees from discussing their pay and limits the amount of information about pay that is made public
What is pay secrecy? p 6
ranks various jobs in a hierarchy of job worth and assigns monetary values to each job
What is the job-ranking method?
Built on the need for achievement and its influence on behavior; includes personal responsibility, moderate risk-taking, and desire for immediate feedback.
What is McClelland's Learned Needs Theory? p56
the most common pay-for-performance method
What is merit pay? p65
union activities, sabbaticals, caregiver leave, parental leave, jury duty, and bereavement leave
What are examples of pay for time not worked? pp147-148
wage-structure, wage-level and individual wage decision
What are the three wage decisions? p 13
Develops a wage structure by comparing job descriptions with a classification scheme that ranks the jobs in a hierarchy of job worth
What is the classification/grading method? p25
Identifies two types of needs; motivators are associated with the job content and contribute to motivation
What is Herzberg's Motivator-Hygiene Theory? p 57
signing, performance, project, referral, and retention
What are types of bonuses? p 68
defined benefit and defined contribution
What are types of qualified benefit plans? p130
blue-collar and non-supervisory white collar workers; professional employees; supervisors and executives
What are the three labor markets?
A number that compares a person's pay rate with the midpoint of the pay range
What is the compa-ratio? p 37
Examines the effects of extrinsic rewards (money and recognition awards) on intrinsic satisfaction
What is Self-determination Theory? p57
straight, bonus, salary +, tiered and variable
What are sales commission options? p67
PPO, POS, HMO, fee for service
What are managed health care options? p155-157
external factors, organizational factors, job factors, individual factors
What are determinants of pay? p 12
Jobs that are overpaid relative to the amount the wage curve indicates out to be paid for them
What are red-circle jobs? p 38
Motivation is determined by the outcomes people expect to occur as a result of their actions
What is Expectancy Theory? p58
physical exam, company car, first-class travel, income tax prep., financial counseling, estate planning, reserved parking
What are common executive perks? p93
cosmetic surgery, teeth whitening, hair transplant, childcare and nursing services for a health baby, funeral expenses, medicines and drugs from other countries
What are medical expenses not covered under health savings accounts? p162