Management Fundamentals Quiz

Management Fundamentals - Chapter 12: Training, Performance Appraisal, and Compensation

• The objective is to expose employees to different experiences and a wider variety of skills to enhance job satisfaction and cross-train them.
• On-The-Job Training (OJT) is specific to the performance elements of a particular job or task, and can be done by anyone proficient at that task, typically an immediate supervisor or experienced coworker.
• Mentoring tends to apply to a broader set of tasks and is usually done by someone experienced, involving hands-on modeling of tasks.
• Off the Job Training (OJT) takes place away from the job site, commonly in the form of management training or employee retreats.
• Performance appraisal involves formally assessing work accomplishments and providing feedback for evaluation and development purposes.
• Small group discussions explore whether managers should give employees the same style of report card for their performance appraisal and what should be different.
• Types of appraisals include graphic rating scales, BARS, critical incidents technique, and multiperson comparisons.
• Graphic rating scales use checklists to evaluate performance, while BARS describe actual behaviors at various performance levels and are more reliable and valid.
• Critical incident technique involves keeping a log of effective and ineffective behaviors, which can polarize the review.
• Alternatives to supervisory appraisal include peer appraisal, upward appraisal, and 360° feedback.
• Intrinsic compensation refers to nonmaterial job benefits, while extrinsic compensation includes material forms like wages, salary, and bonuses.
• Work-life balance and types of extrinsic pay, such as base pay, piecework, commission, bonus, and merit pay increases, are essential elements in compensation.