Fichas
Compensation
Fichas del conjunto (18)
- 1Types of CompensationDirect and Indirect
- 2Indirect CompensationNon-financial (e.g. flex-time)
Benefits (e.g. Medical/Dental) - 3Direct CompensationFinancial Rewards $$$
Wages/Salary, Commissions, bonuses - 4Total Rewards ProgramAn approach that looks at both direct and indirect compensation
- 5What makes improves the effectiveness of compensation for the employer?Linking it directly to organizational objectives.
- 6What are some common organizational goals for compensation?compensation budget control
employee performance management
rewarding performance
salary equity for employees
labour market competitiveness - 7What affects the Wage Mix?Internal and external factors
- 8What are some internal factors affecting the wage mix?worth of a job
employees relative worth
compensation strategy
ability and willingness to pay - 9What are some external factors affecting the wage mix?economy
area wage rates
labour market
legal requirements
cost of living
collective bargaining - 10What is a living wage?A living wage is the ability for a family to meets its basic needs (i.e. food, clothing, shelter, transportation).
- 11What are some benefits to employees from living wage compensation policies?higher standard of living
increased motivation - 12What are some benefits to employers from living wage compensation policies?reduced turnover
savings on hiring and training
reduced absenteeism
improved productivity
strengthened local economy
improved corporate reputation - 13What generation will living wage policies be most appealing to?Gen Y/Millennials because they are seeking a greater sense of social justice in the workplace
- 14What is Equity Theory?A theory of motivation that says workers will be more motivated when their inputs=outputs. Workers will also look to see that pay is equitable compared to that of others.
- 15How is a living wage policy equitable?It indicates that every position has enough inherent worth to allow the worker to meet basic needs.
- 16Do you feel that living wage policies are sustainable?Sorry, I can't answer this one for you.
- 17Do you want to earn a living wage, regardless of the type of work you perform?All you my friend.
- 18Did you enjoy this presentation?Yes
;)
Información
- Descripción
- Flashcards related to compensation and living wage policies
- Creado por
- heather.a.fehr · nov 2015
- Actualizado
- 13 dic 2016
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