a person’s belief that a specific action leads to a specific outcome

A form of health care that provides services for a fixed period on a pre-paid basis

The employer exchanges monetary rewards for work done

Paying above market rates for the industry

Groupings of individual jobs having approximately the same job worth

In Maslow’s hierarchy, the need to belong, to be accepted, to give and receive love

A plan that allows employees to select the benefits they prefer from groups of benefits established by the employer

The degree of openness or secrecy that an org allows regarding its pay system

Formal, systematic means to identify the relative worth of jobs within an organization

Employee salary compared to the full range for the job

Paying at market rates for the industry

A form of health care created by an insurance company and a group of employers, who negotiate discounted fees with networks of health-care providers.

Use of pay survey data to identify the relative value of jobs based on what other employers pay for similar jobs

Employee salary compared to the market rate (midpoint) of the range for the job

Time spent in an organization or on a particular job that is used to determine eligibility for organizational rewards and benefits.

Factors that identifies a job value commonly present throughout a group of jobs

Occurs when an employee is extremely competent in one area and is therefore rated high in all categories

Paying below market rates for the industry

A one-time annual payment that does not become part of the employee’s base pay and is usually tied to performance

Plans that distribute a portion of an organization’s profits to its employees

An individual’s performance is the basis for either the amount of the pay increases

Occurs when an appraiser gives more weight to the employee’s earlier performance and discounts recent occurrences

A percentage increase in wages to maintain real wages in a period of economic inflation

Assumes that individuals who have worked another year are entitled to pay increases, with little regard for performance differences

Group incentives where a portion of the gains (savings) an organization realizes from group efforts is shared with the group