Compensation | Managing Performance | Dismissals | Benefits | Motivation |
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What is Internal equity
The perceived fairness of the pay structure within an organization
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What is Leniency error
Occurs when an appraiser rates all employees high because they don’t want to give low scores
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What is Attrition
Occurs when individuals quit, die or retire and are not replaced
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What is Defined-benefit plans
A pension plan where employees are promised a definite amount based on age and length of service
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What is Valence
the strength of an individual’s desire for a particular outcome
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What is Total compensation / Total rewards
Monetary and non-monetary rewards provided to employees in order to attract, motivate and retain them
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What is Horn effect
Occurs when an employee has one weakness which results in an overall low rating
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What is Voluntary Separation
Occurs when an employee decides to quit, retire or no longer shows up for work
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What is 403b plans
Retirement plans that allow employees and employers of certain tax-exempt organizations to make pre-tax pay deferrals toward retirement savings through a payroll deduction plan
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What is Physical needs (bottom)
The lowest level in Maslow’s hierarchy, the need to meet basic physical needs or drives
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What is Salary
Consistent payments to employees, made each period regardless of the number of hours worked in the period
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What is Bias
An error that occurs when an appraiser’s values, beliefs, or prejudices distort ratings (either consciously or unconsciously)
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What is Hiring Freeze
Occurs when all employment requisitions are placed on hold due to poor business conditions or realignment
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What is Consumer-Driven Health (CDH) Plan
A form of health care in which employers contribute a set dollar amount to employees to cover their own health-related expenses before the deductible period and regular PPO coverage begins
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What is Theory Y Manager
believes that employees dislike rigid controls and inherently want to accomplish something
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What is External equity
The perceived fairness in pay relative to what other employers are paying for the same type of work
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What is Central tendency error
Occurs when an appraiser rates all employees within a narrow range, regardless of differences in actual performance
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What is Outplacement Assistance
occurs when a group of services are provided to give displaced EE’s support and assistance in finding a new job
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What is Older Workers Benefit Protection Act (OWBPA)
This act requires equal treatment for older workers in early retirement or severance situations by providing them time to consult an attorney before sign waivers promising not to sue for age discrimination
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What is Safety and Security
In Maslow’s hierarchy, the need to feel secure and free from threats, to feel that the world has some order and predictability so that one can cope with events
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What is Employee stock ownership plan (ESOP)
Stock bonus plans by which employees gain ownership in the organization for which they work
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What is Balanced Scorecard Appraisal
A performance appraisal method that focuses on measuring an employee’s success in four related categories; financial, customer, processes, and learning
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What is Rightsizing
Changing the alignment of resources in an organization to more appropriately fit the current business needs – could result in a reduction in force
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What is Worker’s Compensation
A statutory benefit governed by the laws of each state to provide disability income (approximately two-thirds of pre-disability income), medical care, death benefits, and vocational rehabilitative services due to job-related injuries.
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What is Hygiene Factors
The extrinsic factors of motivation in Herzberg’s two-factor theory which include job security, pay, working conditions and supervision
- The presence of these factors satisfies the employee but does not motivate |