Shared Flashcard Set

Details

HRM300 Compensation Test 4 Set 1
Compensation 10th Ed.
29
Business
Undergraduate 3
03/09/2013

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Cards

Term
When do workers begin to show a strong interest in joining a union:
Definition

• workplace relations are bad

• management is not trustworthy

• workers feel they have little influence over decisions affecting them.

Term
A study of unions in 114 companies concluded that:
Definition

• Unions do make a difference in wages, across all studies and all time periods.

• The size of the gap varies from year to year.

Term
Statistics reveal that the presence of a union adds what percent to employee benefits
Definition
• about 30-40%
Term
two-tier wage scales:
Definition
• Wage structures that differentiate pay for the same jobs based on hiring date.
Term
“Spillover” effect:
Definition
• The fact that improvements obtained in unionized firms “spill over” to nonunion firms seeking ways to lessen workers’ incentives for organizing a union.
Term
What is the goal of unions?:
Definition
Is to secure sound, stable income levels for the membership.
Term
Individualism is:
Definition
•  it is the degree to which individuals are supposed to look after themselves or remain integrated into groups, usually around the family.
Term
What countries have the highest number of people in the workforce in unions?:
Definition

• Sweden

• United Kingdom

• Italy

Term

Japanese Traditional National System

Japan’s employment relationships are supported by?:

Definition

• “Three Pillars”

o Lifetime security within the company

o Seniority-based pay and promotion systems

o enterprise unions

Term
The Pay objectives in traditional German systems include:
Definition

• Mutual long-term commitment

• Security

• Egalitarian pay structures

• Cost control through tariff agreements, which apply to competitors labor costs too.

Term
External competitiveness in the United States is:
Definition

• Market determined.

• Compete on variable and performance-based pay.

Term
Third-country nationals (TCNs):
Definition

• Expatriates who are citizens of neither the employer’s parent country nor the foreign country where they are living and working.

 

 

Term
What does the executive branch of the federal government enforce?:
Definition
• Laws through agencies and its other bodies.
Term
“Sarbanes-Oxley” act:
Definition
• Executives cannot retain bonuses or profits from selling company stock if they mislead the public about the financial health of the company.
Term
Which occupational groups are categorized as “exempt”?:
Definition

• Executive

• Administrative

• Professional

• Computer & Outside Sales Employees

• Highly Compensated

Term
Act requiring employers to give employees breaks during the workday?
Definition

Occupational Safety and Health Administration legislation

 

•Portal-to-Portal Act

Term
What was the ADEA Act amended to include?:
Definition
• The Older Workers Benefit Protection Act
Term
Executive Order 11246:
Definition
• Prohibits discrimination by federal contractors and subcontractors in all employment practices on the basis of race, color, religion, sex, or national origin.
Term
What are major factors used to manage total labor costs?:
Definition

• Employment

• Average cash compensation

• Average benefits costs.

Term
Contingent workers:
Definition

• A growing workforce that includes flexible workers, temporaries, part-time, employees, and independent contractors whose employment is of limited duration.

 

 

Term
What is the “turnover effect”?:
Definition
• The downward pressure on average wage that results from the replacement of high-wage-earning employees with workers earning a lower wage.
Term
Consumer Price Index (CPI):
Definition

• A measure of the changes in prices in a fixed market basket of goods and services purchased by a hypothetical average family. Not an absolute measure of living costs; rather, a measure of how fast costs are changing.

—Glossary

 

• Measures changes in prices over time. Changes indicate only whether prices have increased more or less rapidly in an area since the base period.

Term
Which forms of executive compensation is most likely to be involved in unethical practices?
Definition
• Performance-based pay, misusing and even failing to understand survey statistics, manipulating job evaluations, peer-company competitive data, masking overtime and pay discrimination violations, failure to understand that correlation does not mean causation, and recommending pay programs without addressing their expected costs and returns
Term
“Red Circle” employee:
Definition
• Pay rates that are above the maximum rate for a job or pay range for a grade.
Term
Employee self-service:
Definition
• Employees can access their personal information, make choices about which health care coverage they prefer, allocate savings between growth or value investment funds, access vacation schedules, or check out a list of child or elder care service providers.
Term
Individualism
Definition
On the one side versus its opposite, collectivism,
Term
Contingent Workers
Definition
• Have employment agreements that may cover only short, specific time periods. The can be employees, but can also be independent contractors/vendors or may be employed by staffing services firms/vendors.
Term
contingent workforce.
Definition
Many employers achieve flexibility and control labor costs by expanding or contracting this.
Term
Third Country Nationals
Definition
Employees of the U.S. foreign subsidiary who maintain citizenship in a country other than the United States or the host country. Compensation is tied to comparative wages in the local country, the United States, or the country of citizenship.
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