Exam 7: Compensating Employees

The primary advantage of broadbanding is that it provides greater flexibility into employee assignments.

When using the job classification method of job evaluation, raters categorize jobs into groups of jobs that are similar in difficulty but not in context called ________.

External equity refers to how fair the job's pay rate is, when compared to other jobs within the same company.

The provision of the Family and Medical Leave Act that entitles employees to take up to 12 weeks of unpaid, job-protected leave for the birth of a child only applies to women.

Scanlon plans involve putting some portion of an employee's weekly pay at risk for the opportunity to earn incentives if the employee meets or exceeds his or her goals.

Which incentive plan is based on a philosophy that managers and employees must cooperate together?

________ is any salary increase the firm awards to an individual employee based on his or her individual performance.

The goal of ________ is to provide sure, prompt income and medical benefits to work-related accident victims or their dependents, regardless of fault.

The Comprehensive Omnibus Budget Reconciliation Act requires most private employers to continue to make health benefits available to terminated or retired employees and their families for a period of time, generally ________.

The Family and Medical Leave Act ________.

Job classification is the simplest of the job evaluation methods.

External equity refers to ________.

Which form of equity refers to how a job's pay rate in one company compares to the job's pay rate in other companies?

Which compensation-related law contains minimum wage, maximum hours, overtime pay, equal pay, and child labor provisions?

Holidays, vacations, jury duty, funeral leave, military duty, personal days, sick leave, sabbatical leave, and maternity leave are classified as ________ benefits.

The ________ prohibits discriminating against employees who are 40 years of age and older in all aspects of employment, including compensation.

Unions negotiate all of the following pay-related issues except:

When using the job classification method of job evaluation, raters categorize jobs into groups of similar jobs called ________.

Malcolm is interviewing for a new job and he is evaluating the quality of the pension plans offered for each company he is considering. One company offers a pension plan in which the company will make all contributions to the plan and will base his pension benefit on a formula linked to his pay at the time of retirement and the number of years he was with the firm. This pension plan could be classified as ________.

Jenny's pension plan encourages her to contribute at least 5% of her annual salary in addition to the set amount that her company contributes. She is given choices regarding how the money is invested. When she retires, the amount she has available will depend on how much she invested herself, and the rate of return on the investments she chose. This pension plan could be classified as ________.