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