Term
| Describe the 2 influences of expatriate pay and benefits. |
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Definition
Although expatriate pay and benefits have been linked more closely to the home country, this link now depends more on the NATURE and LENGTH of the assignment.
*Keep employees at the standards they are used to which can ensure success for the amount of time away. |
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Term
| Describe the FOUR ways job‑based pay structures can create problems. |
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Definition
1) top‑down decision making and status differentials are reinforced.
2) bureaucracy is encouraged, and time and cost required to change&update job descriptions & job evaluations can become a barrier to change.
3) May not reward desired behaviors that were needed yesterday because they may not be helpful today and tomorrow.
4) Encourages promotion‑seeking behavior, but discourages lateral movement.
**JOB is the determining factor to pay structures instead of individual skills** |
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Term
| List and describe the 3 responses in Job-based Pay structures. |
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Definition
1. DELAYER– reducing the number of job levels which provides more flexibility in job assignments and assigning merit increases
2. SKILL-BASED - paying individuals for skills acquired and capable of using.
EXAMPLES--
--education: teacher with BA vs MA; language skills
-- skills valuable for the company
--hourly or lower tiered jobs
3. COMPETENCY-BASED determined by proficiencies in higher positions
EXAMPLES--
--higher level positions than skill-based
--leadership/development; more abstract;
--salaried; higher level professionals |
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Term
| Explain how CEOs help build a company. |
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Definition
CEOS build culture of the company
CEOS are the face of organization,
CEOs set priorities
CEO pay has its own rules regarding pay level and amount
CEOS maintain job position throughout career |
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Term
| What country has the highest pay for CEO and what factor can contribute to this? |
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Definition
US CEOs are paid higher than any other country.
This can be influenced by the individualism of US culture |
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Term
| Define the trust gap between executives and average workers. |
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Definition
The trust gap is the ratio of executive pay to average worker pay which creates distrust towards CEOs intentions resulting in resentment toward their pay.
The issue becomes even more salient when companies are engaging in layoffs but are not cutting executive pay. |
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Term
| What is the major reality in EEO compensation? |
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Definition
| Women are still paid less than men although women comprise a large proportion of the workforce. |
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Term
| List and describe the 2 trends related to EEO. |
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Definition
1) proportion of women and nonwhites are growing in workforce
2) proportion of earnings amongst women to men, and black and Hispanics to whites are high which explain the decline amongst whites in working population.
**growing importance of EEO compensation as women and minorities continue to grow** |
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Term
| What Act established minimum wage and overtime pay? |
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Definition
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Term
| Explain the Fair Labor Standards Act and describe what type of worker is covered under this law. |
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Definition
Creates a minimum wage standard and overtime pay rates for nonexempt, hourly workers.
Minimum wage is the lowest amount that employers are legally allowed to pay, and now stands at $7.25 an hour. |
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Term
| List the two laws that require federal contractors to pay the minimum wages of the area. |
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Definition
The Davis‑Bacon Act (1931)
Walsh‑Healy Public Contracts Act (1936) |
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