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15 Cards in this Set
- Front
- Back
Job Structure
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Relative pay for different jobs within the organization.
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Pay Level
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Average amount (including wages, salaries, and bonuses) the organization pays for a particular job.
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Pay Structure
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Pay policy resulting from job structure and pay-level decisions.
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Fair Labor Standards Act (FLSA)
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Federal law that establishes min wage and requirements for OT pay and child labor,
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Exempt Employees
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Managers, outside sales-people, and any other employees not covered by the FLSA requirement for overtime pay.
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Nonexempt employees
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Employees covered by the FLSA requirements for overtime pay.
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Benchmarking
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Procedure in which an organization compares its own practices against those of successful competitors.
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Job Evaluation
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An administrative procedure for measuring the relative internal worth of organization's jobs.
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Piecework Rate
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Rate of pay for each unit produced.
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Pay Policy Line
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A graphed line showing the mathematical relationship between job evaluation points and pay rate.
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Pay Grades
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Sets of jobs having similar worth or content, grouped together to establish rates of pay.
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Pay Range
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Set of possible pay rates defined by a min, max, and midpoint of pay for employees holding a particular job or a job within a particular pay grade.
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Pay Differential
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Adjustment to a pay rate to reflect differences in working conditions or labor markets.
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Delaying
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Reducing number of levels in organization's job structure. Alternative to Job-Based Pay.
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Skill-Based Pay Systems
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Pay structures that set pay according to the employees' levels of skill or knowledge and what they are capable of doing. Alternative to Job-Based Pay.
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