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11 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Bonus
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One-time payment that does not become part of the employee’s base pay.
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Chap 13
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Commission
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Compensation computed as a percentage of sales in units or dollars.
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Chap 13
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Compensation committee
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Subgroup of the board of directors, composed of directors who are not officers of the firm.
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Chap 13
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Draw
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Amount advanced from and repaid to future commissions earned by the employee.
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Chap 13
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Employee stock ownership plan (ESOP)
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Plan whereby employees have significant stock ownership in their employers.
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Chap 13
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Gainsharing
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System of sharing with employees greater-than-expected gains in profits and/or productivity.
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Chap 13
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Perquisites (perks)
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Special benefits—usually non-cash items—for executives.
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Chap 13
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Profit sharing
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System to distribute a portion of the profits of the organization to employees.
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Chap 13
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Stock option plan
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Plan that gives employees the right to purchase a fixed number of shares of company stock at a specified price for a limited period of time.
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Chap 13
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Straight piece-rate system
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Pay system in which wages are determined by multiplying the number of units produced by the piece rate for one unit.
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Chap 13
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Variable pay
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Compensation linked to individual, group/team, and/or organizational performance.
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Chap 13
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