Exam 9: Managing Compensation

The major provisions of which act are concerned with minimum wage rates and overtime payments,child labor,and equal rights?

Broadbands create more concern by employees with pay grades and steps.

Briefly discuss the motivating value of pay equity and pay expectancy for employees.

Because management positions are more difficult to evaluate and involve certain demands not found in jobs at the lower levels,some organizations do not attempt to include them in their job evaluation programs for hourly employees.

Broadbanding expands the traditional salary grades into broader salary bands.

The Davis-Bacon Act of 1931 mandates that all Federal Employees on projects worth more than $20,000 be paid at a wage equal to the prevailing rate and at 1.5 times the rate for overtime.

Internal factors that influence wage rates include the worth of a job and the employer's ability to pay.

Steps within a rate range allow pay increases based on merit or seniority.

When the organization pays wages that are relatively equal to that of other employers for similar work,this is the basis of:

Equity theory is also referred to as distributive fairness.

The worth of a job,as it is determined by its comparative worth with jobs in other firms,is an external factor in the wage mix.

_____ encompasses employee wages and salaries,incentives,bonuses,and commissions.

Compensation programs that compensate employees for the knowledge they possess are known as:

Employees are likely to accept a promotion if succeeding rate ranges are larger in size.

Competence-based pay may more effectively reinforce an organizational culture of involvement and empowerment.

The ___ collects and displays the results for all the measures that a company uses to monitor and compare compensation among internal departments or units.

Briefly discuss the three main laws that protect against employment discrimination.

The federal wage law that is criticized for a rule that allows minimum pay to be based on the prevailing rate,which often includes higher,union wages,is:

What are some of the factors that can influence wage rates in a firm?

____ helps eliminate the obsession with grades and,instead,encourages employees to move to jobs they can develop in their careers and add value to the organization.