Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

PHR > Chapter 7 - Total Rewards > Flashcards

Chapter 7 - Total Rewards Flashcards

1
Q

financial inducements and rewards as well as nonfinancial inducements and rewards, such as the value of good job content and good working environment

A

total rewards

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

base pay, commissions, bonuses, merit pay, piece rate, differential pay, cash award, profit sharing, gain-sharing

A

direct compensation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

social security, unemployment insurance, disability insurance, pensions, 401(k) and other similar programs, healthcare, vacations, sick leave and paid time off suck as holidays

A

indirect compensation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

The systematic determination of the relative worth of jobs in an organization is known as

A

job evaluation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

comparison of jobs based on each job’s measurable factors

A

job ranking

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

the result of grouping jobs into a predetermined number of grades or classifications

A

job classification

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

an approach using specific compensable factors as reference points to measure relative job worth

A

point factor job evaluation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Uses a standard criteria comprising three compensable factors: know-how, problem-solving, and accountability.

A

the hay plan

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Determines levels of duties and responsibilities using a point rating system to evaluate selected positions. Uses weighted factors to address the major position characteristics of responsibility, education/experience, job conditions, physical requirements, supervision, training, and so on.

A

The Factor Evaluation System (FES)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

involves ranking each job by each compensable factor and then, as an additional step, identifying dollar values for each level of each factor to develop an actual pay rate for the evaluated job

A

factor comparison method

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

a technique used to make outdated data current

A

Aging

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

adjustments to survey numbers by an appropriate percentage needed to achieve a match with specific jobs

A

leveling

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

a process that involves each job by each compensable factor and then identifying dollar values for each level of each factor to develop an actual pay rate for the evaluated job

A

factor comparison job evaluation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

listing of grouped pay data from lowest to highest

A

frequency distribution

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

number of workers in a particular job classification and their pay data

A

frequency tables

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

quantitative or non-quantitative programs allowing sorting or categorizing jobs based on their relative worth to the organization

A

job evaluation method

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

key jobs are measured and valued against the market, and the remaining jobs are inserted into a hierarchy based on their whole-job comparison to the benchmark jobs

A

market based job evaluation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

collections of data on prevailing market pay rates and information on starting wage rates, base pay, pay ranges, overtime pay, shift differentials and incentive pay plans

A

pay survey

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

an average result taking into account the number of participants and each participant’s pay

A

weighted average

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

combination of several pay grades or job classifications with narrow range spreads into a single band with a wider spread

A

broadbanding

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

the way an organization organizes jobs of a similar value into job or groups

A

pay grades

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

pay amounts constrained by the upper and lower boundaries of each pay grade

A

pay ranges

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

distribution of data into percentage ranges, such as top 10 percent

A

percentiles

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

distribution of data into 4 quadrants

A

quartiles

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

dispersion of pay from the lowest boundary to the highest boundary of the pay range

A

range spreads

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

an indicator of how wages match, lead or lag the midpoint of a given pay range computed by dividing the worker’s pay rate by the midpoint of the pay range

A

compa-ratios

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

division of the pay range into several steps that can be advanced by an employee when time-in-job has met the step requirement

A

automatic step rate

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

employees receive step-rate increases up to the established role

A

combination step-rate and performance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

when pay is linked to the level at which an employee can perform in a recognized competency

A

competency based system

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

employee receives one rate of pay up to the production standard and a higher rate of pay when the standard is exceeded

A

differential piece rate system

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

each worker in the same job has the same rate of pay regardless of seniority or job performance

A

flat-rate or single system

32
Q

pay that is based on the level of knowledge an employee has in a particular field

A

knowledge-based system

33
Q

a system with pay determined based on individual job performance

A

performance-based merit pay system

34
Q

employee capabilities rather than how the job is performed determine the employee’s pay

A

person-based system

35
Q

when pay is determined by the employee’s production output

A

productivity-based system

36
Q

when pay is based on the number and depth of skills that an employee has applicable to their job

A

skill-based system

37
Q

a system allowing performance to influence the size or timing of a pay increase along the step system

A

step rate with performance considerations

38
Q

pay increase given to all employees on the basis of market pressure, usually measured against the consumer price index

A

cost of living adjustment

39
Q

pay at a rate lower than the minimum rate for the assigned pay range

A

green circle rate

40
Q

pay at a rate higher than the maximum for the assigned pay range

A

red circle rate

41
Q

a pay increase given to all employees regardless of their job performance and not linked to market pressures

A

general pay increases

42
Q

either a stand-alone performance bonus or part of an annual pay increase

A

lump sum increases

43
Q

a pay increase based solely on length of service

A

seniority pay increases

44
Q

adjustment to base pay programs based on cost of living requirements in various geographic locations where employees work

A

geographic based differential pay

45
Q

additional pay for working under adverse conditions caused by environment or due to specific circumstances

A

hazard pay

46
Q

adjustment to pay structures based on local competitive comparisons

A

labor cost differentials

47
Q

adjustment to base pay programs based on work location remoteness, lack of amenities. climatic conditions and other adverse conditions

A

location based differentials

48
Q

additional compensation paid to an employee as an incentive to accept what would normally be considered adverse working conditions, usually based on time, location or working conditions

A

pay differentials

49
Q

payment at rates greater than straight pay for working overtime or other agreed condition

A

premium pay

50
Q

shift pay, which is generally time-based rewards for employees who work what are considered undesirable shifts such as night shifts

A

time based differential pay

51
Q

extra pay provided for travel time, either under legal requirement or by other agreement

A

travel pay

52
Q

the act of managing the payroll function

A

payroll administration

53
Q

usually computerized software programs designed to accept work time data and generate paychecks or electronic deposit

A

payroll systems

54
Q

program that provides medical care and compensates employees for part of lost earnings as a result of a work-related disability

A

workers’ compensation

55
Q

medical insurance programs that cover some or all of the cost of dental services for subscribers

A

dental plans

56
Q

allows health plan members to go to any qualified physician, or other healthcare provider, hospital or medical clinic and submit claims to the insurance company

A

fee-for-service plans

57
Q

healthcare program where the insurer is paid on a per person basis and offers healthcare services and staff at its facilities

A

health maintenance organization

58
Q

insurance that provides plan subscribers with managed healthcare with the purpose of reducing costs and improving the quality of care

A

managed-care plans

59
Q

a type of managed-care plan that is a hybrid of HMO and PPO plans

A

point of service plan

60
Q

healthcare program including an in-network and an out-of-network option for services

A

preferred provider organization

61
Q

medical insurance programs that cover some or all of the cost of prescription drugs for subscribers

A

prescription drug plans

62
Q

health insurance programs paid entirely by the employer

A

fully funded plans

63
Q

purchasing agents for a large group of employers

A

health insurance purchasing cooperatives

64
Q

health insurance programs paid for in part by the employer and in part by the employee

A

minimum premium plans

65
Q

health insurance programs where the employer purchases one or two types of stop-loss insurance coverage

A

partially self-funded plans

66
Q

health insurance programs where the employer assumes all the risks as a self-insured entity

A

self-funded plans

67
Q

health insurance programs where the employer assumes all the risks but hires an independent claims department

A

third-party administrator plan

68
Q

health insurance programs in which all of the risks is assumed by the employer

A

administrative services only plan

69
Q

when the health plan is protected against the risk of a major illness for one participant or one family unit, covered by the plan

A

specific stop-loss coverage

70
Q

methods to be used in fulfilling organizational responsibilities and policies

A

procedures

71
Q

the health plan is protected against the risk of large total claims from all participants during the plan year

A

aggregate stop-loss coverage

72
Q

allows employees to set aside a pre-established amount of money on a pretax basis per plan year for use in paying authorized medical expenses

A

flexible spending account

73
Q

employer funded medical reimbursement plans

A

health reimbursement accounts

74
Q

a tax advantaged medical savings account available to tax payers in the US who are enrolled in a HDHP

A

health savings accounts

75
Q

these programs help employers lower their costs and allow employees with set-aside money to pay for out-of-pocket medical and medical related expenses

A

high deductible health plans

76
Q

allows employees to pay certain qualified expenses one a pretax basis

A

section 125 cafeteria plans

77
Q

rewards such as meaningful and fulfilling work, autonomy and positive feedback that lead to high levels of job satisfaction

A

intrinsic rewards

PHR (5 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions