Employee Total Rewards and Legislation

<p>Balance sheet approach (A)</p> Signup and view all the answers

<p>Financial protection during mergers or acquisitions (A)</p> Signup and view all the answers

<p>Job security (C)</p> Signup and view all the answers

<p>Fair Labor Standards Act (FLSA) (B)</p> Signup and view all the answers

<p>Increase wages to attract talent (B)</p> Signup and view all the answers

<p>Compensation survey method (D)</p> Signup and view all the answers

<p>To graphically represent job evaluation points and pay rates (D)</p> Signup and view all the answers

<p>Base pay (C)</p> Signup and view all the answers

<p>To ensure equitable compensation (C)</p> Signup and view all the answers

<p>Geographical differences and labor supply (B)</p> Signup and view all the answers

<p>False (B)</p> Signup and view all the answers

<p>True (A)</p> Signup and view all the answers

<p>False (B)</p> Signup and view all the answers

<p>False (B)</p> Signup and view all the answers

<p>True (A)</p> Signup and view all the answers

<p>False (B)</p> Signup and view all the answers

<p>True (A)</p> Signup and view all the answers

<p>False (B)</p> Signup and view all the answers

<p>True (A)</p> Signup and view all the answers

<p>False (B)</p> Signup and view all the answers

<p>True (A)</p> Signup and view all the answers

<p>False (B)</p> Signup and view all the answers

<p>False (B)</p> Signup and view all the answers

Compensation tied to individual, group, or organizational performance.

Rewards given to employees based on individual performance.

Compensation based on an employee's skills and knowledge.

Compensation for top-level management, set by the board.

Compensation plans that reflect differences in countries, like cost of living.

A comprehensive approach to employee compensation that considers pay, training, benefits, time off, work-life balance, and opportunities for advancement.

Federal law setting minimum wage, overtime pay, record-keeping, and child labor requirements for employers in the US.

A systematic process for determining the relative worth of different jobs in an organization.

Tools for gathering data on pay practices of other companies in similar industries and locations.

Organizing jobs into grades with pay ranges for jobs of similar value.

The fundamental part of an employee's compensation, determined by job evaluation, usually paid hourly, salaried, or per-piece.

Intrinsic rewards are internal (e.g., satisfaction), while extrinsic rewards are external (e.g., salary).

Visual representation of the relationship between job evaluation points and pay rates.

Additional compensation paid to employees for work that is undesirable, hazardous, or inconvenient, like working overtime or on weekends.

The federal law that sets minimum wage, overtime pay, record-keeping, and child labor requirements for employers.

A market where there are more job openings than qualified workers, often leading to higher wages and benefits to attract talent.

The process where unions negotiate wages, benefits, and working conditions for their members with employers.

The process of managing an organization's compensation program, including evaluating jobs, designing pay structures, and communicating policies to employees.

Systematic ways to determine the relative value of different jobs in an organization, like ranking, classification, and point methods.

Compensation for employees required to be available to work outside their regular schedule, even if they don't actually work.

Extra pay given for working during less desirable shifts, such as nights, weekends, or holidays.

Additional compensation for work involving physical risks, dangerous conditions, or exposure to hazardous materials.

Organization-wide incentive plan where employees share in company savings achieved through improved performance.

Rights given to executives to purchase company stock at a specific price, allowing them to profit from stock value increases.