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20 Cards in this Set

  • Front
  • Back
type of reward that often includes praise for completing a project or meeting performance objectives
intrinsic rewards
the basic compensation an employee receives, usually as a wage or salary
base pay
payments directly calculated on the amount of time worked
wages
consistent payments made each period regardless of number of hours worked
salaries
type of compensation linked to individual, team, or org. performance
variable pay
an indirect reward given to an employee or group of employees as a part of org. membership
benefit
the perceived fairness between what a person does and what the person receives.
equity
the perceived fairness of the process and procedures used to make decisions about employees
procedural justice
the perceived fairness in the distribution of outcomes
distributive justice
the major federal law affecting compensation
Fair Labor Standards Act (FLSA)
employees to whom employers are not required to pay overtime under the FLSA
Exempt Employees
Employees who must be paid overtime under the FLSA
Non-Exempt employees
hours given in lieu of payment for extra time worked
compensatory time off
affects compensation paid by firms engaged in fed. construction projects valued in excess of $2000.
Davis-Bacon Act of 1931
require firms with fed supply or service contracts exceeding $10,000 to pay a prevailing wage
Walsh-Healy Public Contracts Act & the Service Contracts Act
similarity in pay for all jobs requiring comparable levels of knowledge, skills, and abilities, even if actual duties and market rates differ significantly.
Pay Equity
a court action in which a portion of an employee's wages is set aside to pay a debt owed a creditor
garnishment
the systematic determination of the relative worth of jobs within an org.
job evaluation
job found in many orgs. and performed by several individuals who have similar duties that are relatively stable and require similar KSAs
Benchmark Job
identifies a job value commonly present throughout a group of jobs
compensable factor