Exam III

comparable worth.

The concept in which jobs historically held exclusively by men and by women are considered equal in terms of value or worth to the employer is known as

broadbanding.

The concept in which organizations adopt a competence-based pay system to structure their compensation payments to employees is

wage-rate compression.

The internal pay-equity concern that results in the reduction of differences between job classes is

equal pay for equal work.

The major provisions of the Fair Labor Standards Act include the following, except

competence-based pay.

The method that compensates employees for the different skills or increased knowledge they possess rather than for the job they hold in a designated job category is known as

points manual.

The point system of job evaluation requires the use of a

wage curve

The relationship between the relative worth of employees' jobs and their wage rates can be represented by means of a(n)

external pay equity.

The situation that exists when an organization is paying wages that are relatively equal to what other employers are paying for similar types of work is known as

expectancy theory of motivation.

The theory that predicts how one's level of motivation depends on the attractiveness of the rewards sought and the probability of obtaining those rewards is the

Hay profile method.

A job evaluation system that has been developed specifically to evaluate executive, managerial, and professional positions is the

Hay profile method.

A job evaluation system that uses knowledge, mental activity, and accountability to evaluate positions is the

Bureau of Labor Statistics.

A major national publisher of wage and salary data is the

pay level.

A means of wage payment that can be affected by earned profits and other financial resources available to employers is a(n)

value-added compensation.

A program in which components of the compensation package create value for the organization and its employees is called

points system.

A quantitative job evaluation procedure that determines the relative value of a job by the total points assigned to it is the

piecework.

A system of pay in which employees are paid according to the number of units they produce is

pay-for-performance.

A wide range of compensation options, including merit-based pay, bonuses, salary commissions, job and pay banding, team/group incentives, and various gainsharing programs, is called

cost of living.

An external factor affecting the wage mix is

job evaluation programs.

An internal factor affecting the wage mix is

purchasing power.

Due to inflation, compensation rates have been adjusted upward periodically to help employees maintain their

distributive fairness.

Equity theory is also referred to as

incentive programs.

In both hourly and salary jobs, differences in employee performance can be recognized and rewarded through promotion and with various

job classification system.

In job evaluation, jobs are classified and grouped according to a series of predetermined grades in the

wage-rate determination.

Job evaluation systems provide for internal equity and serve as the basis for

strategic compensation planning.

Linking compensation to organizational objectives, the pay-for-performance standard, and the motivating value of compensation are aspects of

low wages.

Unfavorable effects for employers and society such as increased employee turnover and diminished employee output may be a result of

red circle rates.

Wages paid above the range maximum are called

internally equitable.

When employees believe that the wage rates for their jobs approximate the job's worth to the organization, compensation policies are considered to be

increased fatigue at work.

When wage-rate compression exists, all of the following exist, except

Davis-Bacon Act.

Which act is also referred to as the Prevailing Wage Law?