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15 Cards in this Set

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