Compensation and Employee Motivation

<p>A job evaluation system measuring a job's worth to the organization (A)</p> Signup and view all the answers

<p>To achieve external equity of compensation (A)</p> Signup and view all the answers

<p>Direct, indirect, and non-financial compensation (D)</p> Signup and view all the answers

<p>To reduce salaries for existing employees (B)</p> Signup and view all the answers

<p>The perception of compensation as fair compared to others (B)</p> Signup and view all the answers

<p>Higher effort is expected when rewards are perceived as valuable (B)</p> Signup and view all the answers

<p>Personal preferences of the employee (C)</p> Signup and view all the answers

<p>Indirect compensation (D)</p> Signup and view all the answers

<p>To prevent wage discrimination issues (A)</p> Signup and view all the answers

<p>Flexible work hours (C)</p> Signup and view all the answers

<p>The relationship between the relative worth of jobs and wage rates (A)</p> Signup and view all the answers

<p>Groups of jobs within a class that are paid the same rate (C)</p> Signup and view all the answers

<p>Payment rates above the maximum of the pay range (A)</p> Signup and view all the answers

<p>The collapse of many traditional salary grades into wider salary bands (B)</p> Signup and view all the answers

<p>It represents payment according to the number of units produced. (D)</p> Signup and view all the answers

<p>Competency-Based Pay (D)</p> Signup and view all the answers

<p>Provisions that connect wage increases to the cost of living. (A)</p> Signup and view all the answers

<p>Job Ranking System (D)</p> Signup and view all the answers

<p>To establish internal equity of compensation. (A)</p> Signup and view all the answers

<p>It can influence pay changes for the entire workforce. (D)</p> Signup and view all the answers

<p>Wage increases larger than rises in the consumer price index. (C)</p> Signup and view all the answers

<p>It can only consider a limited number of jobs. (A)</p> Signup and view all the answers

<p>Hourly Work (C)</p> Signup and view all the answers

The total rewards given to employees, including direct (wages, salaries, bonuses) and indirect (benefits) compensation, as well as non-financial rewards.

Linking employee compensation to the company's goals, culture and values.

Employees feeling that their compensation fairly reflects the value of their work compared to others.

Employees work harder if they think their efforts will lead to valued rewards.

Pay received by employees, such as salary, hourly wages, commissions, and bonuses.

Benefits offered by employers, such as retirement plans, healthcare, and paid time off.

The comprehensive package of compensation elements, encompassing direct pay, indirect benefits, and non-financial elements.

Factors that influence an employee's desire to work hard and efficiently. Compensation is a key element of motivation.

Work paid based on the number of hours worked.

Work paid based on the number of units produced.

Negotiation between employers and unions regarding wages, hours, and working conditions.

Wage increases exceeding the rise in the cost of living.

A measure of average price changes for goods and services.

Systematic process of determining the relative worth of jobs.

Simple job evaluation method that ranks jobs based on their relative worth.

Job evaluation system that classifies jobs into predetermined grades.

A job evaluation method that assigns points to jobs based on compensable factors like skills, effort, responsibility, and working conditions.

A job evaluation system that values jobs based on their contribution to the organization, considering financial, operational, and customer service objectives.

A job evaluation technique used for managerial positions, focusing on knowledge, mental activity, and accountability.

A survey of wages paid by similar companies in the same area, to determine external pay equity for employees.

Gathering pay data from other companies to establish competitive pay rates for our own employees, essential for fair compensation.

A graphical representation showing the relationship between the value of different jobs and their corresponding wage rates.

Categorizations of jobs within an organization that are paid the same rate, often based on similar skill levels and responsibilities.

A defined set of minimum to maximum pay rates for a particular pay grade, allowing for adjustments based on experience and performance.

Compensation rates that exceed the maximum of the designated pay range for a specific pay grade.

A strategy that reduces the number of traditional salary grades into a more simplified structure with fewer, broader bands.