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?
