Business Management Tools and Payroll Concepts

A management tool focusing on four key areas: financial results, customer results, internal processes, and learning/innovation. It helps link all department outcomes into one measurement system.

Court-ordered deductions from an employee's wages to satisfy a debt. They shouldn't exceed 25% of an employee's disposable income (pay after legal deductions).

Legal deductions required by law, such as income tax and Medicare contributions.

A company-run program allowing employees to purchase company stock at a discounted price. It's not a legally required deduction.

The first step in a needs assessment is to clearly identify the needs and objectives of the new system before gathering data.

A fairness principle that focuses on the procedures used to determine pay differences. It addresses the perceived fairness of the process.

Focuses on the fairness of the outcomes of a decision or policy, particularly regarding pay. It addresses the fairness of the results.

A situation where employees with similar responsibilities are paid significantly different salaries. This can create a perception of unfairness.

The Pregnancy Discrimination Act (PDA) requires employers to treat pregnant employees the same as other employees with short-term disabilities, including providing reasonable accommodations like light duty.

The Federal Labor Relations Authority (FLRA) is an independent U.S. government agency that regulates labor relations between federal employees and the government.

A line of sight compensation program makes it clear to employees how their performance directly affects their pay, fostering a strong connection between effort and reward.

Case studies offer a realistic, practical, and often in-depth understanding of a business situation, making them ideal for training that requires applying knowledge to real-world scenarios.

The OSHA General Duty Clause requires employers to provide a safe workplace free from recognized hazards and to comply with safety and health standards. It does not require employees to take workplace violence prevention training.

The perception of fairness in how pay ranges are determined.

The perceived fairness of how pay reflects job performance.

Eliminating pay disparities based on race or gender.

A form of non-cash compensation, giving employees ownership interest in the company.

A job evaluation method that assesses jobs by comparing them to benchmark positions to ensure internal fairness.

The percentage of a particular protected group in the company compared to their availability in the relevant labor market.

Requires employers to keep payroll records for a minimum of 3 years for all employees.

Measures whether a test truly assesses the underlying attribute it intends to measure.

Ensures the test content adequately covers all critical aspects of a job.

The degree to which a test predicts future job performance.

A strategic plan is a long-term roadmap for an organization, outlining its future direction and the steps required to achieve its goals.

Restructuring involves streamlining organizational hierarchy, reducing management levels, and often downsizing the workforce to reduce costs.

Reengineering is a fundamental overhaul of business processes to achieve significant improvements in efficiency and effectiveness.

A company's mission statement defines its current purpose and business, while its strategic vision encompasses its aspirational future direction.

A strategy is the approach a company takes to compete and gain market share, utilizing its strengths and opportunities.

A type of employee incentive designed to keep valuable employees within the company by offering them significant benefits or rewards.

The federal agency responsible for conducting research and providing recommendations to prevent work-related injuries and illnesses.

The maximum amount of wages that can be garnished for child support payments for an employee supporting a spouse or child is 50% of their earnings after legally mandated deductions.

A significant and thorough reorganization of a company's structure, often involving changes to staffing, hierarchy, and operations.

A corporate-level strategy should be determined first, and then its impact on the company's current business model and strategies should be assessed.