Employee Compensation Systems Quiz

<p>Capitalism focuses on private ownership and free markets.</p> Signup and view all the answers

<p>The National Labor Relations Act (NLRA) of 1935 is sought to create an environment that supports collective bargaining.</p> Signup and view all the answers

<p>Health maintenance organizations (HMOs) require the use of specific healthcare providers (typically lower premiums and out of pocket costs).</p> Signup and view all the answers

<p>Pay policy line approach: Establishing a mathematical pay formula between job evaluation points and pay rates</p> Signup and view all the answers

<p>Procedural dimensions emphasize the fairness in the pay decisions process, transparency, and consistency.</p> Signup and view all the answers

<p>Benefit plans guarantee specific retirement benefits</p> Signup and view all the answers

<p>Compa ratio</p> Signup and view all the answers

<p>Weak uncertainty avoidance cultures have a flexible approach to rules and innovation.</p> Signup and view all the answers

<p>The Family and Medical Leave Act (FMLA)</p> Signup and view all the answers

<p>Marginal tax rate refers to the percentage of tax applied to each additional dollar of income earned.</p> Signup and view all the answers

<p>Benchmarking involves comparing an organization's practices (like pay levels) to competitors in the market to ensure competitiveness and alignment with industry standards.</p> Signup and view all the answers

<p>The National Labor Relations Board (NLRB) protects employees' rights to organize, join unions, and engage in collective bargaining. It investigates and resolves unfair labor practices committed by employers or unions, and oversees union elections to ensure they are conducted fairly.</p> Signup and view all the answers

<p>Employee stock ownership plans (ESOPs)</p> Signup and view all the answers

<p>Low labor costs</p> Signup and view all the answers

<p>Pay levels are typically below market level in the short term during a growth strategy.</p> Signup and view all the answers

<p>Human capital represents the skills, knowledge, and abilities that employees bring to an organization.</p> Signup and view all the answers

<p>Performing meaningful work provides intrinsic motivation.</p> Signup and view all the answers

<p>Profit sharing - based on company profits</p> Signup and view all the answers

<p>Pay grade groups jobs of similar worth into categories with defined pay ranges to simplify pay administration.</p> Signup and view all the answers

<p>Third country - Country that is neither host or parent country</p> Signup and view all the answers

<p>Employees must join the union within a certain period after being hired.</p> Signup and view all the answers

<p>Transition to an expat job requires adaptive skills, including cultural training, language preparation, etc.</p> Signup and view all the answers

<p>Benchmarking - Industry comparison</p> Signup and view all the answers

<p>Forecasting - predicting HR needs</p> Signup and view all the answers

<p>Range spread - refers to the difference between the minimum and maximum pay within a pay grade.</p> Signup and view all the answers

<p>Reinforcement theory - Behaviors followed by rewards are more likely to be repeated, while absence of rewards decreases the likelihood of the behavior occurring again.</p> Signup and view all the answers

<p>Merit pay - Traditional system where base pay increases are tied to performance rating and are permanent adjustments.</p> Signup and view all the answers

<p>Parent/home country - Company headquarters.</p> Signup and view all the answers

<p>Public sector unions often have more legal restrictions on collective bargaining, government oversight, and often restrictions on the right to strike.</p> Signup and view all the answers

<p>Union membership has been declining, and that employer resistance and market changes are contributing factors.</p> Signup and view all the answers

<p>Equal employment opportunity commission (EEOC) - Enforced federal laws prohibiting discrimination in the workplace.</p> Signup and view all the answers

<p>Future rewards, sustained effort, and pragmatism</p> Signup and view all the answers

<p>Equity perception - Addresses fairness in rewards based on effort and contribution relative to others.</p> Signup and view all the answers

<p>Benchmarking - Involves comparing an organization's practices, like pay or benefits, with industry standards.</p> Signup and view all the answers

<p>Reinforcement theory - States that behaviors following by positive rewards are more likely to be repeated, while those not rewarded are less likely to repeat</p> Signup and view all the answers

<p>Employers</p> Signup and view all the answers

<p>Socialist system - Emphasizes public ownership of resources and wealth distribution to meet social needs.</p> Signup and view all the answers

<p>Culture with low power distance - Cultures emphasize equality, and hierarchical differences are minimized.</p> Signup and view all the answers

<p>American Federation of Labor and Congress of Industrial Organizations (AFL-CIO)</p> Signup and view all the answers

<p>Key Jobs</p> Signup and view all the answers

<p>Specific, measurable performance goals</p> Signup and view all the answers

<p>Risk pooling, spreading financial risk across a larger group, reduces per-person costs</p> Signup and view all the answers

<p>Owners or shareholders of the company</p> Signup and view all the answers

<p>Union shop - Requires employees to join the union within a certain time after being hired</p> Signup and view all the answers

<p>Workers compensation</p> Signup and view all the answers

<p>Social Security Act</p> Signup and view all the answers