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12 Cards in this Set
- Front
- Back
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What are the three strategic approaches? |
pay for skills and competencies pay for performance flexible pay systems |
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The types of payments |
Direct payments indirect payments |
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what is an example of indirect payments? |
benefits |
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considerations in determining pay rates |
legal union compensation policies equity |
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steps in establishing pay rates |
conduct job evaluation group similar jobs into pay grades conduct salary survey price each pay grade using wage curves fine-tune pay rates |
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what is a job evaluation |
systematic comparison of jobs to determine their relative worth |
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benchmark job |
job commonly found in organizations critical to firms operations |
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compensable factor |
skill, effort, responsibility, working conditions |
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job evaluation methods |
ranking method classification point |
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what is the ranking method? |
obtain job information group jobs to be rated select compensable factors rank jobs |
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classification/grading method |
categorize jobs into groups classes contain similar jobs grades contain dissimilar jobs of equal difficulty |
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point methods |
you give points |
