exam 1

employee’s critical psychological states that result from performing their jobs (ex. believing your work matters)

includes both monetary and nonmonetarty rewards

focus on being lowest cost producer/seller of goods or services

focus on offering unique goods or services to the public that are different than their competitor

effective when jobs include predictable behaviors, have a short-term focus, require autonomous activity, focus on quantity of output

effective when jobs require highly creative behaviors, have a long-term focus, involve risk-taking

base pay and compensable factors

hourly wage, annual salary

an employee’s skill level, effort, level or responsibility, and the severity of working conditions

total compensation equation

systematic process for gathering, documenting, and analyzing information to describe jobs

systematic process to recognize differences in the relative worth among a set of jobs and to establish pay differentials accordingly

pay structures, pay grades, pay ranges

industry’s product market, capital intensity, the profitability of the industry, unionization

the complexity of KSAs that define jobs

when labor supply is < employer demand, companies compete for limited talent

income continuity, safety, and work hours; pay discrimination; accommodating disabilities and family needs, prevailing wage laws

minimum wage, overtime pay, child labor provisions

must pay employee comparable wages for similar jobs regardless of sex

pay discrimination charge must be filed within 180 days of discriminatory paycheck

prohibits employers from retaliating against employees who share salary info with coworkers

intentional

unintentional

prohibits covered employers from discriminating against a “qualified individual with a disability”

reward employees with periodic additions to base pay and according to employees length of service in performing jobs

addresses pay of employees who reach max pay grade rates based on seniority, rewards employees w periodic pay increases that don’t become part of base pay

award permanent pay increases for performance, reward excellent effort of results, motivate future performance, help retain values employee

adds to base pay on a non recurring basis, controls costs, motivates employees through explicit goal setting

reward employees whose work is performed independently

promote supportive, collaborative behavior among employees

tie employee comp to a company’s performance over a short time frame

quantity & quality of work output, monthly sales, work safety record, work attendance

customer satisfaction, labor cost savings, material cost savings, services cost savings

operational: customer satisfaction, efficiency, service/ quality, safety/ injury; financial: revenue, earnings per stock share, income, revenue growth

reward workers for every item produced over a designated production standard

piecework award x (# of garments stitched above the piecework standard x piecework incentive award)

a group of employees rewarded for productivity gains

cooperative organizational climate that promotes high level of trust, open communication, and participation

uses suggestion system or problem-solving task force

awarded when actual productivity exceeds its target productivity level

scanlon, rucker, improshare

labor costs/sales value of production) = ratio

value added/ total employment costs

award cash to employees typically on a quarterly or annual basis

place cash awards in trust accounts for employees