Term
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Definition
| monetary and non-monentary rewards provided to employees in order to attract, motivate, and retain them |
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Term
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Definition
| Compensation, Benefits, Performance and Talent Management |
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Term
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Definition
| basic compensation that an employee receives, usually as a wage or a salary |
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| payments directly calculated on the amount of time worked |
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| consistent payments made each period regardless of the number of hours worked |
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Definition
| compensation linked directly to individual, team, or organizational performance |
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Definition
| indirect reward given to an employee or a group of employees for organizational membership |
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Term
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Definition
| assumes that individuals who have worked another year are entitled to pay increases, with little regard for performance differences |
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Term
| pay for performance philosophy |
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Definition
| requires that compensation changes reflect performance differences |
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Term
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Definition
| perceived fairness between what a person does and the person receives |
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Term
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Definition
| percieved fairness of the process and procedures used to make decisions about employees |
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| percieved fairness in the distribution of outcomes |
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Term
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Definition
| rewards individuals for the capabilities they demonstrate and acquire |
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Term
| possible components of Global Employee Compensation |
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Definition
Froeign Service and Hardship Premiums
Relocation and Moving Allowances
Housing and Utilties Allownaces
Cost of Living Adjustments
Tax Equalization Payments
Educational Allownaces for Children
Home Leaves and Travel Allowances |
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Term
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Definition
| compensation plan that equalizes cost differences between the international assignment and the same assignment in the home country |
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Term
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Definition
| compensation plan that attempts to be more comprehensive in providing base pay, incentives, benefits, and relocation expenses regardless of the country to which the employee is assigned |
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Term
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Definition
| compensation plan used to protect expatriates from negative tax consequences |
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Term
| Fair Labor Standards Act FLSA of 1938 |
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Definition
min wage
child labor
number of hours worked per week |
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Term
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Definition
| one that is supposed to meet the basic needs of a workers family |
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Term
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Definition
| employees to whom employers are not required to pay overtime |
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Term
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| employees who must be paid overtime |
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Term
| exempt jobs of overtime categories |
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Definition
| executive, administrative, professoinal, computer employees, and outside sales |
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Term
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Definition
| similarity in pay for all jobs requiring comparable knowledge, skills, and abilities, even if actual job duties and market rates differ significantly |
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Term
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| a court order that directs an employer to set aside a portion of an employees wages to pay a debt owed creditor |
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Definition
| formal, systematic means to identify the relative worth of jobs within an organization |
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Term
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Definition
| job value commonly present throughout a group of jobs |
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Term
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Definition
| use of market pay data to identify the relative value of jobs based on what other employers pay for similar jobs |
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Definition
| collection of data on compensation rates for workers performing similar jobs in other organizations |
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Definition
| jobs found in many organizations |
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Definition
| group of jobs having common organizational characteristics |
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| groupings of individuals job having approximately the same job worth |
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Definition
| graph line that shows the relationship between job value as determined by job evaluation points and job value as determined by pay survey rates |
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Definition
| grouping jobs into pay grades based on similar market survey amounts |
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