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1ST YEAR FINALS > HRM > Flashcards

HRM Flashcards

1
Q

WHAT: All forms of pay or rewards going to employees & arising from their employment

A

COMPENSATION

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2
Q

Two forms of compensation

A

Direct forms
Indirect forms

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3
Q

FORMS OF COMPENSATION: wages, salaries, incentives, commission, bonuses

A

Direct forms

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4
Q

FORMS OF COMPENSATION: employer paid insurance, leave pay (VL/SL)

A

Indirect forms

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5
Q

WHAT: A segment of HRM which focuses on planning, organizing and
controlling the direct and indirect payments employees receive for
the work they perform.

A

COMPENSATION ADMINISTRATION

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6
Q

A ___________ is an important part of the overall strategic HRM plan, since much of the company budget is for employee compensation. It can include salary, bonuses, health-care plans, and a variety of other types of compensation.

A

compensation package

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7
Q

COMPENSATION STRATEGIES

A

Market COMPENSATION policy
Market PLUS philosophy
Market MINUS philosophy

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8
Q

COMPENSATION STRATEGIES: To pay the going rate for a particular job.

A

Market COMPENSATION policy

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9
Q

COMPENSATION STRATEGIES: Determine the going rate and add a percentage to that rate, such as 5%.

A

Market PLUS philosophy

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10
Q

COMPENSATION STRATEGIES: Particular percentage less than the market.

A

Market MINUS philosophy

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11
Q

PAY THEORIES

A

EQUITY THEORY
EXPECTANCY THEORY
REINFORCEMENT THEORY

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12
Q

PAY THEORIES: concerned with the relational satisfaction employees get from pay and inputs they provide to the organization. It says that people will evaluate their own compensation by comparing their compensation to others’ compensation and their inputs to others’ inputs

A

equity theory

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13
Q

PAY THEORIES: employees will put in as much work as they expect to receive. In other words, if the employee perceives they are going to be paid favorably, they will work to achieve the outcomes. If they believe the rewards do not equal the amount of effort, they may not work as hard.

A

expectancy theory

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14
Q

PAY THEORIES: ,developed by Edward L. Thorndike, says that if high performance is followed by some reward, that desired behavior will likely occur in the future

A

reinforcement theory

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15
Q

METHODS OF WAGE PAYMENTS

A

TIME RATE WAGE SYSTEM
PIECE RATE WAGE SYSTEM

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16
Q

METHODS OF WAGE PAYMENTS: Workers are paid according to the work done during a certain period of time at a rate of per hour, per day, per week, per month o any other fixed period of time.

A

TIME RATE WAGE SYSTEM

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17
Q

METHODS OF WAGE PAYMENTS: Workers are paid according to the amount of work done or numbers of units produced or completed, the rate of each unit being settled in advance irrespective of the time taken to do the work.

A

PIECE RATE WAGE SYSTEM

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18
Q

TYPES OF PAY SYSTEMS

A

SKILL BASED PAY
COMPETENCY BASED PAY
BROADBANDING
VARIABLE PAY SYSTEM

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19
Q

TYPES OF PAY SYSTEMS: salary levels are based on an employee’s skills, as opposed to job title. This method is implemented similarly to the pay grade model, but rather than job title, a set of skills is assigned a particular pay grade.

A

SKILL BASED PAY

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20
Q

TYPES OF PAY SYSTEMS: looks at the employee’s traits or characteristics as opposed to a specific skills set. This model focuses more on what the employee can become as opposed to the skills he or she already has.

A

COMPETENCY BASED PAY

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21
Q

TYPES OF PAY SYSTEMS: all jobs in a particular category are assigned a specific pay category. For example, everyone working in customer service, or all administrative assistants (regardless of department), are paid within the same general band.

A

BROADBANDING

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22
Q

TYPES OF PAY SYSTEMS: This type of system provides employees with a pay basis but then links the attainment of certain goals or achievements directly to their pay.

A

VARIABLE PAY SYSTEM

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23
Q

PROCESS OF WAGE DETERMINATION

A
  1. JOB ANALYSIS AND JOB EVALUATION
  2. DETERMINING PERFORMANCE STANDARD AND WAGE SURVEYS
  3. DECIDING WAGE STRUCTURE AND RULES FOR ITS ADMINISTRATION
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24
Q

WHAT: reveals information about tasks, duties, responsibilities and standards proposed job is to be performed by the employees.

A

Job analysis

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25
Q

WHAT: finding out relative worth of job in terms of its contribution and significance to the overall organizational objectives.

A

Job evaluation

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26
Q

WHAT: Things of value other than compensation that an organization provides to its employees.

A

BENEFITS

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27
Q

TWO TYPES OF BENEFITS

A

MANDATED BENEFITS
NONMANDATED BENEFITS

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28
Q

TWO TYPES OF BENEFITS: Benefits that are mandated by law.

A

MANDATED BENEFITS

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29
Q

TWO TYPES OF BENEFITS: Other benefits provided by the organization in addition to those mandated by law.

A

NONMANDATED BENEFITS

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30
Q

SSS contribution rate is _____ of your monthly salary credit (MSC) not lower than P2,000 and not exceeding P20,000, and this is being shared by you (employee) and your employer at 4% and 8%, respectively.

A

12%

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31
Q

Philippine Health Insurance (PHILHEALTH) premium rate for CY 2022 is _____ for all Direct Contributors with an income floor of P10,000 and income ceiling of P80,000 effective January
2022.

A

4%

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32
Q

HOME MUTUAL DEVELOPMENT FUND (HDMF): The employee share is pegged at ______ if his monthly compensation is ₱1,500 and below, and _______ if monthly compensation is more than ₱1,500. The employer share is set at 2% regardless of the employee’s monthly compensation.

A

1%; 2%

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33
Q

COMMON EMPLOYEE BENEFITS (NONMANDATED) in the PHILS.

A
  • Paid leave
  • Health insurance/Dental insurance
  • Life insurance
  • Scholarship grant/Tuition reimbursement
  • Housing
  • Vehicle plan
  • Commuting/travel assistance
  • Wellness programs/Gym memberships
  • Workplace perks such as recreation activities, food and coffee, and flexible work schedules
  • Telecommuting options
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34
Q

WHAT: A systematic way to examine how well an employee is performing his or her job.

A

PERFORMANCE EVALUATION SYSTEMS

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35
Q

WHAT: The process of assessing the performance or progress of an employee, or a group of employees on the given job.

A

PERFORMANCE EVALUATION SYSTEMS

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36
Q

CHARACTERISTICS OF PERFORMANCE
APPRAISAL

A
  1. A PROCESS
  2. SYSTEMATIC ASSESSMENT
  3. MAIN OBJECTIVE
  4. SCIENTIFIC EVALUATION
  5. PERIODIC EVALUATION
  6. CONTINUOUS PROCESS
  7. EMPLOYEE FEEDBACK
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37
Q

USES OF PERFORMANCE APPRAISAL

A
  1. DECIDING PROMOTION
  2. PERSONNEL ACTIONS
  3. WAGE AND SALARY ADMINISTRATION
  4. TRAINING AND DEVELOPMENT
  5. PERSONNEL RESEARCH
  6. SELF EVALUATION
  7. HEALTHY COMPETITION
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38
Q

ESSENTIALS OF AN EFFECTIVE PERFORMANCE APPRAISAL SYSTEM

A
  • MUTUAL TRUST
  • CLEAR OBJECTIVES
  • STANDARDIZATION
  • TRAINING
  • JOB RELATEDNESS
  • STRENGTH & WEAKNESS
  • FEEDBACK AND PARTICIPATION
  • INDIVIDUAL DIFFERENCES
  • POST APPRAISAL INTERVIEW
  • REVIEW AND APPEAL
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39
Q

DESIGNING PERFORMANCE APPRAISAL SYSTEM

A
  1. FREQUENCY
  2. REWARDS
  3. GOALS
  4. SOURCE
  5. COMMUNICATE
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40
Q

DESIGNING PERFORMANCE APPRAISAL SYSTEM: Determine how often performance appraisals should be given.

A

FREQUENCY

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41
Q

DESIGNING PERFORMANCE APPRAISAL SYSTEM: Determine if pay increase can be tied to employee performance.

A

REWARDS

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42
Q

DESIGNING PERFORMANCE APPRAISAL SYSTEM: Determine goals of the appraisal.

A

GOALS

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43
Q

DESIGNING PERFORMANCE APPRAISAL SYSTEM: Determine who should evaluate the performance of the employee.

A

SOURCE

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44
Q

DESIGNING PERFORMANCE APPRAISAL SYSTEM: communicate the process; train managers and employees on the process.

A

COMMUNICATE

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45
Q

APPRAISAL METHODS: This type of evaluation lists traits required for the job and asks the source to rate the individual on each attribute.

A

GRAPHIC RATING SCALE

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46
Q

APPRAISAL METHODS: The source answers a series of questions about the employee’s performance in essay form.

A

ESSAY APPRAISAL

47
Q

APPRAISAL METHODS: The manager records examples of the employee’s effective and ineffective behavior during the time period between evaluations, which is in the behavioral category.

A

CRITICAL INCIDENT APPRAISAL

48
Q

APPRAISAL METHODS: When it is time for the employee to be reviewed, the manager will pull out this file and formally record the incidents that occurred over the time period.

A

CRITICAL INCIDENT APPRAISAL

49
Q

APPRAISAL METHODS: These statements may include strengths and weaknesses about the employee, or statements about past performance, specific examples or incidents of past performance.

A

ESSAY APPRAISAL

50
Q

APPRAISAL METHODS: A series of questions is asked and the manager simply responds yes or no to the questions, which can fall into either the behavioral or the trait method or both.

A

CHECKLIST SCALE

51
Q

APPRAISAL METHODS: With this results-focused approach, a minimum level is set and the employee’s performance evaluation is based on this level.

A

Work Standards Approach

52
Q

APPRAISAL METHODS: Employees in a particular department are ranked based on their value to the manager or supervisor. This system is a comparative method for performance evaluations.

A

Ranking Method (Stack Ranking)

53
Q

APPRAISAL METHODS: The tool utilizes narrative information as from critical incidents file and assigns quantified ranks to each expected behavior. There is a specific narrative outlining what exemplifies a “good” or “poor” behavior for each category.

A

BEHAVIORALLY ANCHORED RATING SCALE (BARS)

54
Q

POTENTIAL APPRAISAL PROBLEMS: An appraisal that is too open to interpretation.

A

UNCLEAR STANDARDS

55
Q

POTENTIAL APPRAISAL PROBLEMS: In performance appraisal, the problem that occurs when a supervisor’s rating of a subordinate on one trait biases the rating of that person on other traits.

A

HALO EFFECT

56
Q

POTENTIAL APPRAISAL PROBLEMS: a tendency to rate all employees the same way, such as rating them all average.

A

CENTRAL TENDENCY

57
Q

POTENTIAL APPRAISAL PROBLEMS: the problem that occurs when a supervisor has a tendency to rate all subordinates either high or low.

A

LENIENCY OR STRICTNESS

58
Q

POTENTIAL APPRAISAL PROBLEMS: letting what the employee has done recently blind you to what his or her performance over the past year.

A

RECENCY EFFECT -

59
Q

POTENTIAL APPRAISAL PROBLEMS: the tendency to allow individual differences such as age, race and sex to affect the appraisal ratings employees receive.

A

BIAS

60
Q

LIMITATIONS OF PERFORMANCE APPRAISALS

A
  1. TIME CONSUMING
  2. LACK OF RELIABILITY
  3. INCOMPETENCE
  4. NO UNIFORM STANDARDS
  5. ABSENCE OF EFFECTIVE PARTICIPATION OF EMPLOYEES
  6. RESISTANCE OF EMPLOYEES TO APPRAISAL
  7. PAPERWORK
  8. FEAR OF SPOILING RELATIONS
  9. STEREOTYPING
  10. NEGATIVE APPROACH
  11. MULTIPLE OBJECTIVES
  12. RESISTANCE
  13. INDIVIDUAL DIFFERENCES
  14. UNCONFIRMED
61
Q

GUIDELINES FOR EFFECTIVE APPRAISALS

A
  1. KNOW THE PERFORMANCE APPRAISAL PROBLEMS
  2. USE THE RIGHT APPRAISAL TOOL
  3. KEEP A DIARY
  4. GET AGREEMENT ON A PLAN
  5. ENSURE FAIRNESS
62
Q

WHAT: An interview in which the supervisor and subordinate review the appraisal and make plans to remedy deficiencies and reinforce strengths.

A

APPRAISAL INTERVIEW

63
Q

GUIDELINES IN CONDUCTING APPRAISAL
INTERVIEWS

A
  1. Be direct and specific.
  2. Do not be personal; always compare the performance to the standard.
  3. Remember, it is a development opportunity.
  4. Thank the employee and avoid criticism.
64
Q

PERFORMANCE MANAGEMENT PROCESS

A
  1. PERFORMANCE PLANNING
  2. DAY TO DAY COACHING AND FEEDBACK
  3. QUARTERLY PERFORMANCE CHECK IN
  4. FORMAL PERFORMANCE REVIEW
65
Q

WHAT: A psychological process that begins with a need that transforms into a goal which in turn directs and employee behavior.

A

EMPLOYEE MOTIVATION

66
Q

_________gives an employee extra motivation to go above and beyond current level of performance.

A

Rewards

67
Q

Earning a _______ and doing a work
that makes them proud.

A

paycheck

68
Q

WHAT: he rate at which employees leave the company.

A

EMPLOYEE TURNOVER

69
Q

TWO TYPES OF TURNOVER: initiated by the employee for many different reasons. It can be somewhat predicted and addressed in HR, the focus of this chapter.

A

Voluntary turnover

70
Q

TWO TYPES OF TURNOVER: employee has no choice in their termination—for example, employer-initiated due to nonperformance.

A

Involuntary turnover

71
Q

COSTS OF TURNOVER

A
  • DIRECT
  • INDIRECT
72
Q

DIRECT COST OF TURNOVER

A
  • Recruitment Costs
  • Advertising Costs
  • Orientation and training of new employee
  • Severance costs
  • Testing costs
  • Time to interview new replacements, Time - to recruit and train new hires
73
Q

INDIRECT COST OF TURNOVER

A
  • Lost Knowledge
  • Loss of productivity while new employee is brought up to speed
  • Cost associated with lack of motivation prior to leaving
  • Cost associated with loss of trade secrets
74
Q

REASONS FOR VOLUNTARY TURNOVER

A
  1. POOR MATCH BETWEEN THE JOB AND THE SKILLS OF THE EMPLOYEE
  2. LACK OF GROWTH
  3. INTERNAL PAY EQUITY
  4. MANAGEMENT
  5. WORKLOAD
75
Q

MOTIVATION THEORIES: Mayo developed these experiments to see how the physical and environmental factors of the workplace, such as lighting and break times, would affect employee motivation.

“People tend to be more motivated when they felt cared about” (observer effect)

A

Hawthorne Studies

76
Q

WHO: HAWTHORNE STUDIES

A

Elton Mayo

77
Q

WHEN: HAWTHORNE STUDIES

A

1927-1932

78
Q

WHERE: HAWTHORNE STUDIES

A

Western Electric Hawthorne Works company in Illinois

79
Q

MOTIVATION THEORIES: there is a hierarchy of five needs, and as one level of need is satisfied, it will no longer be a motivator. In other words, people start at the bottom of the hierarchy and work their way up.

A

Maslow’s Hierarchy of Needs

80
Q

Maslow’s hierarchy consists of

A
  • Self-actualization needs
  • Esteem needs
  • Social needs
  • Safety needs
  • Physiological needs
81
Q

WHEN: HIERARCHY OF NEEDS

A

1943

82
Q

WHO: HIERARCHY OF NEEDS

A

Abraham Maslow

83
Q

MOTIVATION THEORIES: People’s needs are grouped in three possibly overlapping categories: Existence, Relatedness, Growth.

A

Alderfer’s ERG Theory

84
Q

WHO: Alderfer’s ERG Theory

A

Clayton P. Alderfer

85
Q

ALDERFER”S ERG THEORY: desire for physiological and material well-being.

A

EXISTENCE

86
Q

ALDERFER”S ERG THEORY: desire for interpersonal relationships.

A

RELATEDNESS

87
Q

ALDERFER”S ERG THEORY: desire for continued growth & development.

A

GROWTH

88
Q

MOTIVATION THEORIES: he developed the motivation-hygiene theory to explain the results

A

Herzberg Two-Factor Theory

89
Q

In ________ Frederick Herzberg published The Motivation to Work, which described his studies to determine which aspects in a work environment caused satisfaction or dissatisfaction.

A

1959

90
Q

WHO: Herzberg Two-Factor Theory

A

Frederick Herzberg

91
Q

MOTIVATION THEORIES: theory gives us a starting point to understanding how management style can impact the retention of employees. His theory suggests two fundamental approaches to managing people.

A

McGREGOR’s Theory X and Theory Y

92
Q

Douglas McGregor proposed the X-Y theory in his 1960 book called _________

A

The Human Side of Enterprise

93
Q

WHO: McGREGOR’s Theory X and Theory Y

A

Douglas McGregor

94
Q

WHEN: McGREGOR’s Theory X and Theory Y

A

1960

95
Q

WHEN: CARROT AND STICK THEORY

A

1700s during the Seven Years’ War

96
Q

CARROT AND STICK THEORY: rewards/incentives

A

CARROT

97
Q

CARROT AND STICK THEORY: “poking and prodding” to get employees to do something

A

STICK

98
Q

MOTIVATION THEORIES: People will have different characteristics dispensing on their dominant motivator.
* POWER, AFFILIATION, ACHIEVEMENT

A

McCLELLAND’S NEEDS THEORY

99
Q

WHO: McCLELLAND’S NEEDS THEORY

A

David McClelland

100
Q

MOTIVATION THEORIES: Goal setting is essentially linked to task performance.

Motivation is a goal-directed
process.

A

GOAL SETTING THEORY OF MOTIVATION

101
Q

WHO: GOAL SETTING THEORY OF MOTIVATION

A

Edwin Locke

102
Q

5 Conditions of GOAL SETTING THEORY OF MOTIVATION

A

CLARITY,
CHALLENGE,
COMMITMENT,
FEEDBACK,
COMPLEXITY

103
Q

MOTIVATION THEORIES: Individual’s behavior is a function of its consequences. You can change someone’s behaviour by using reinforcement, punishment, and
extinction or the “Law of Effect”

A

REINFORCEMENT THEORY

104
Q

WHO: REINFORCEMENT THEORY

A

B.F. Skinner

105
Q

WHEN: REINFORCEMENT THEORY

A

1974

106
Q

MOTIVATION THEORIES: Employees seek to maintain equity between the inputs that they bring to the job and the outcomes they receive from it against the perceived inputs and outcomes of others.
* It is concerned with BALANCE.

A

EQUITY THEORY

107
Q

WHO: EQUITY THEORY

A

J. Stacy Adams -behavioral and
workplace Psychologist

108
Q

WHEN: EQUITY THEORY

A

1960s

109
Q

MOTIVATION THEORIES: help managers identify the factors that motivate employees
● provides insight into the sources of motivation and the relationship between effort, performance, and desired outcomes.

A

EXPECTANCY THEORY

110
Q

WHO: EXPECTANCY THEORY

A

Victor Vroom

111
Q

WHAT: Developed to address employee turnover, resulting in a more effective organization. E.g. Surveys/Exit Interviews

A

RETENTION PLAN

112
Q

WHAT: an interview performed by HR or a manager that seeks information as to what the employee liked at the organization and what they should be improved.

A

EXIT INTERVIEW

113
Q

EMPLOYEE RETENTION STRATEGIES

A
  1. SALARIES AND BENEFITS
  2. TRAINING AND DEVELOPMENT
  3. PERFORMANCE APPRAISAL
  4. SUCCESSION PLANNING
  5. FLEXITIME, TELECOMMUTING, SABBATICALS
  6. MANAGEMENT TRAINING
  7. CONFLICT MANAGEMENT AND FAIRNESS
  8. JOB DESIGN, JOB ENLARGEMENT
    AND EMPOWERMENT
  9. WORK-LIFE BALANCE

1ST YEAR FINALS (4 decks)

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