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15 Cards in this Set
- Front
- Back
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All forms of financial returns and tangible services and benefits that employees receive as part of an employment relationship |
Compensation
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The mix of intrinsic and extrinsic rewards provided to its members by an organization
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Reward System
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The reward system that adds the most value to the organization, after considering all it's costs
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Optimal Reward System
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anything provided by the job or the organization that satisfies an employee need
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Reward
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factors that satisfy basic human needs for survival and security, as well as social needs and needs for recognition
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Extrinsic Rewards
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Factors that satisfy higher-order human needs for self-esteem, achievement, growth and development
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Intrinsic Rewards
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A promise that a specified reward will be provided if a specified employee behavior is performed
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Incentive
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The economic or monetary part of the reward system.
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Compensation System
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A compensation philosophy that considers the entire spectrum of rewards that an organization may offer to employees
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Total Rewards
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The plan for the mix of rewards to be provided to members, along with the means through which they will be provided
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Reward Strategy
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Foundation pay component for most employees, usually based on some unit of time worked.
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Base Pay
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Relates employee monetary rewards to some measure of individual, group or organizational performance
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Performance Pay
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Non-cash items or services that satisfy a variety of specific employee needs.
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Indirect Pay
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Plan for the mix and total amount of base pay, performance pay and indirect pay to be paid to various categories of employees.
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Compensation Strategy
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a set of capabilities designated by the Canadian council of Human Resources Association as essential for HR Practitioners and required for designation as a certified HR professional (CHRP)
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Required Professional Capabilities (RPCs)
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