Term
| What are the different types of compensation? |
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Definition
Indirect- Benefits, services, and perks
Direct- Base, COLA, Seniority, Merit, Incentive, Skill/Knowledge |
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Term
| What are the compensation philosophies? |
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Definition
Entitlement- Seniority based, Across the board raises, Santa Clause" bonuses
Performance- Performance based, Nor raises for poor performers, Bonuses tied to performance |
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Term
| What is Equity Theory and how does it relate to compensation? |
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Definition
Equity: If my outcomes and inputs equal other's outcomes and inputs.
This relates to compensation in that it can help you determine what is the right amount to be paying your employees
Inequity (under-reward): If my outcomes and inputs are LESS than other's outcomes and inputs
Inequity (over-reward): If my outcomes and inputs are MORE than other's outcomes and inputs |
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Term
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Definition
| -An employees perception of their responsibilities, rewards, and work conditions as compared to other employees in different positions in the same company |
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Term
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Definition
Job Ranking:
-When the job evaluation committee puts together a hierarchy of job descriptions from highest to lowest based on an overall judgement of value
Job Classification:
-When the committee sorts job descriptions into grades w/o using a point system
Point Method:
-Uses compensable factors (work related criteria that the organization considers most important in assessing the relative value of different jobs) to evaluate jobs |
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Term
| External Equity and the different pay level policies. |
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Definition
-Employees perceptions of the conditions and rewards of their employment compared to those of the employees of other firms
-Match:
-Lead:
-Lag: |
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Term
| Salary and benefit surveys |
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Definition
| -Their purposes is to.....and they should be done by... |
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Term
| How are pay grades established? |
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Definition
| -By plotting job evaluation info and wage info (survey salaries)on a graph. The plots represent what other organizations are paying for jobs (market line). There is also s degree to which an individuals equity must be considered. |
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Term
| What are red circled and green circled employees and what should employers do about them? |
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Definition
Red dot- More than pay grade.
Employers should: Promote them,
give them more responsibility,
or cut their pay
Green dot- Less than pay grade
Employers should: Give a raise |
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Term
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Definition
-A fairness criterion that promotes adjusting pay or granting an award by individual according to individual variation in merit.
*Seniority
*Performance
>Merit
>Bonuses
>Knowledge/Skill pay |
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Term
| Laws that affect compensation. |
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Definition
-Title VII of the Civil Rights Act of 1964
*Can't pay ppl in protected classes less
-Lilly Ledbetter Fair Pay Act of 2009
*She was paid 40% less than men in same job
*Only have 180 days after paycheck to file
*Established new law that restarts the file time after every new paycheck given
-Age Discrimination in Employment Act
-Americans with Disabilities Act
-Fair Labor Standards Act of 1938
*Improves working conditions
*Minimum wage
>Provide an income floor for workers in society's lowest paid jobs
>Exceptions:
-Tipped employees
>State Laws can change minimum wage, however you can't ever pay less than the federal minimum wage, only more.
*Overtime Provision
>Aimed at sharing available work
>Requirements
-Over 40hrs/week or 12hr/day
>Nonexempt:
-earn up to $23,660/yr or less than $455/wk
>Exempt:
-executives, administrators, professional emps, outside sales, computer related, highly compensated emps
*Child Labor
>14-15yr: limited job hours
>16-17: limited jobs
>18: unlimited job & hours
-Equal Pay
*Amendment to FLSA
*Equal work: equla skill, effort, responsibilities, performed under similar working conditions
*Exceptions
>merit based, reward based on quality , factors other than sex-training, time of shift, etc. |
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Term
| Benefits: Pros, cons, Purposes |
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Definition
Purposes:
*Retain Employees
*Keep employees healthy
*Benefits taxed
*Improved reputation
*Cheaper for the company
Pros:
*Number one reason people pick jobs
Cons:
*Expensive even for company
*Employer doesn't pay for all of some benefits such as health insurance and 401(k) |
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Term
Social Security:
-What are the benefits offered?
-Who pays for them?
-How are you eligible for them?
-Problems with current system?
-How can they be fixed? |
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Definition
Benefits:
-Retirement
-Disability
-Survivors and family
-Health Insurance (Medicare)
Who pays:
-You; 7.65% of your earnings
>6.20% to retirement, disability, survivors, and family benefits
>1.45% to Medicare
How eligible:
-Retirement
*Age (62 partial, 67 full)
*Years worked (have to have worked 40 nonconsecutive quarters
-Disability
*Younger you are, less time you have to have worked for a company (lowest # 6 quarters)
-Family/Survivors
*Widows/widowers age 60+
*widows/widowers or any age who care for a child age 16 or younger, an unmarried cild or grandchild younger than 18, or a dependent parent age 62+
-Medicare
*people 65+ |
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Term
Unemployment Insurance:
-Purpose
-Who pays for it?
-How are you eligible?
-How long does it last?
-When can benefits be extended?
-What companies have to provide this benefit? |
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Definition
Purpose:
-Provide temporary income for ppl during periods of involuntary unemployment
Who Pays:
-Funded by a tax paid by employers on all employees' earnings
How Eligible:
-Must be available for and actively seeking employment
-Must have worked a minimum of four quarter-year periods out of the last five quarter-year periods and have earned at least $1000
-Must have left job voluntarily |
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Term
Worker's Compensation:
-Purposes
-Who pays for it
-How are you eligible
-Different benefits provided
-What companies have to provide this benefit |
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Definition
Purposes:
-provides medical care, income continuation, and rehabilitation expenses for ppl who sustain job-related injuries or sickness
-provides income to the survivors of an employee whose death is job related
Who pays:
-
Benefits provided
-Disability income, medical care, rehabilitation, survivors benefits
What companies have to provide it:
- |
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Term
Family and Medical Leave Act:
-What companies must provide it
-What is eligible for leave
-How are you eligible
-Who is exempt
-Are employees entitled to return
-When married couples are forced to combine their leave
-How often is this leave used
-What has CA done to increase usage |
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Definition
What companies must provide it:
-Businesses with 50 workers w/in a 75m radius
What is eligible for leave:
-birth of a child
-adoption of a child
-care for sick spouse, child, or parent
-take care of employee's own serious health problems
How are you eligible:
-after 1yr w/company
Who is exempt:
-highly compensated, top 10% of pay scale employees such as managers
Are employees entitled to return:
-employers must give employees back same or equivalent job
When married couples are forced to combine their leave:
-When they have a baby
How often is this leave used:
-14% of eligible workers use it and 35% that use it, use it more than once
What has CA done to increase usage: |
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Term
Paid Time off:
-Purposes
-How does it work
-Pros
-Cons
-Who pays |
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Definition
Purposes:
-
How does it work
Pros
Cons
Who pays |
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Term
Health Insurance:
-Purposes
-How does it work
-Pros
-Cons
-Who pays |
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Definition
Purposes:
-provides health care coverage for both employee and their dependents
How does it work:
-traditional health:
*Live anywhere
*doctor & health care facility of patients choice
*doesn't cover regular checkups & other preventative services, diagnostic tests may be covered in part or full
*covers doctors' & hospitals' bills
-HMO
*may have to live in HMO-designated area
*must use doctors and facilities designed by HMO
*covers reg checkups, diagnostic tests, and other preventative services w/low or no fee
*covers doctors bills and hospital bills at HMO approved hospital
-PPO
*may live anywhere
*must use doctors and facilities associated with PPO or pay additional copayment
*covers reg checkups and diagnotic tests and other preventative services w/low or no fee if you go to doctor and faculty on PPO approved list
*covers bills of PPO approved doctors and hospitals
Pros:
-cheaper to pay bills if sick or injured
Cons:
-restricted to certain doctors depending on what type of coverage you have
Who pays:
-you and company |
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Term
Life Insurance:
-Purposes
-How does it work
-Pros
-Cons
-Who pays |
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Definition
Purposes:
-pay benefits to to survivors of a deceased employee
How does it work:
-typical coverage pays 1yr salary. some comapnies offer extended plans that cover 3-5yr
Pros:
-
-Cons
Who pays |
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Term
Wellness Programs:
-Purposes
-How does it work
-Pros
-Cons
-Who pays |
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Definition
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Term
Employee Assistance Programs:
-Purposes
-How does it work
-Pros
-Cons
-Who pays |
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Definition
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Term
Dependent Care:
-Purposes
-How does it work
-Pros
-Cons
-Who pays |
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Definition
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Term
Educational Assistance:
-Purposes
-How does it work
-Pros
-Cons
-Who pays |
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Definition
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Term
Severence Packages:
-Purposes
-How does it work
-Pros
-Cons
-Who pays |
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Definition
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Term
Flextime:
-Purposes
-How does it work
-Pros
-Cons
-Who pays |
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Definition
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Term
Telecommuting:
-Purposes
-How does it work
-Pros
-Cons
-Who pays |
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Definition
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Term
How have the:
-Consolidated Omnibus Budget Reconciliation Act, Health Insurance Portability and Accountability Act, and Patient Protection and Affordable Care Act
affected health insurance. |
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Definition
-Consolidated Omnibus Budget Reconciliation Act:
*Can still use insurance of prior company after retirement, but you have to pay 102% of the premium, and you can only use it for up to 18 months
-Health Insurance Portability and Accountability Act:
*Prevented employers from excluding putting you on their health insurance if you have a health condition and were previously covered by another insurance company
-Patient Protection and Affordable Care Act:
*in 2014 companies of 50 or more employees will have to provide health insurance to their employees or pay a penalty
*If you aren't covered by an employer, you have to purchase your own health care |
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Term
Retirement Benefits:
-Defined Contribution V. Defined Benefit |
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Definition
Defined Contribution:
-End amount at retirement not known
-Contributions based on % specified in plan
-When investment return is better more money is available for retirement. When there is less of a return on investment, less money is available for retirement
Defined Benefit:
-Fixed annual amount is payed
-Know what you are going to get at retirement bc a set amount is determined that you want when you retire and then payments are made to reach it |
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Term
| How does the Employee Retirement Income Security Act affect retirement plans? |
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Definition
-Eligibility
*Must be 21 and have been at the company for 1yr
-Vesting
*Money you put in is yours, money company puts in is not yours until you are vested
>Cliff Vested: After 3yrs you get companies investment
>Gradent: 20% after 2yrs is yours, another 20% each year until you reach 6yrs, then all the money the company invests is yours
-Reporting and Disclosure
*The company has to tell you how their policies work and if it changes. Also how well retirement fund is doing
-Funding
*Company has to make sure there is enough money to pay benefits and has to invest with your best interests in mind |
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Term
| Benefits of managing health and safety in the workplace. |
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Definition
-Designed to enhance employee's physical, mental, and emotional well-being
-Save on workmens comp
-Better productivity/return on investment |
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Term
| The three agencies and their purposes established by the OSH Act. |
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Definition
-OSHA
*Enforces through regular inspection
*Writes citations
*Basically the "police" of health and safety
-NIOSH
*Research Group
*Helps write standards
*Trains inspectors
-OSHRC
*Judges (resolves any disputes)
*Appeal citations(make final call) |
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Term
OSH Act:
-Requirements of employers |
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Definition
Requirements of employers:
-Follow Standards
* Personnel protective equipment
>Provide equipment, training for safety
*Hazard communication
>Labels to warn of level of hazard for hazardous materials
*Bloodborne pathogens
>Trained on how to handle blood & bodily fluids
*Emergency exit procedures
>Fire drills, evacuations
*Occupational Noise exposure
>Noisy workplace has to provide safety against it
*Lockout/Tagout
>Physically lock machine so no one gets hurt trying to turn on a broken machine/Tell ppl not to use machine that is broken and waiting to be fixed
Follow General Duty Clause:
-If no specific standard, employees have to follow these
-Have to provide a work place that is free of recognized hazards
*Likely to cause death or serious injury
Keep Safety and Health Records:
-OSHA form 300
*Must post every Feb.
-Exceptions
*10 or less emps
*Good track record
*Government company
*In safe industry
All companies must have OSHA poster in view of employees |
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Term
OSH Act:
-Employee rights |
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Definition
General Duty Clause:
-Right to work in a safe place
-Be informed about exposure to hazards
-Receive training
-Request an inspection or file a complaint
-Have representative present at inspection
-Can refuse to work in situations of imminent danger
-No retaliation |
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Term
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Definition
Priorities:
-Imminent danger situations
-Fatalities and catastrophies
-employee complaints
-referrals
-high hazard industries or work places
-follow up inspections |
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Term
OSHA:
-How are inspections done |
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Definition
-Opening conference
*why they are here and how inspection works
-physical inspection
*review of records
-closing conference
*violations and closing comments |
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Term
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Definition
-De minimis (no citation)
-other than serious (up to 7,000)
-serious (up to $7,000 mandatory penalty)
-willful (up to $70,000; $5,000 minimum
-Repeated (up to $70; 5,000 minimum)
-Failure to abate prior violation (up to 7,000 a day) |
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Term
OSHA:
-Voluntary consultaion |
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Definition
| -An employer may request an inspection and not be find for any violations |
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Term
| Causes of accidents and how prevented |
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Definition
Causes of accidents:
-Unsafe working conditions
-Unsafe Acts
-Health Issues
How prevented:
-Safety training
-Incentives for safe behavior
-Personality testing
-Realistic job preview
-Implement repercussions
-Drug testing
-performance tests
-beef up security
-benefits (wellness programs) |
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Term
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Definition
Freedom from unauthorized and unreasonable intrusions into personal affairs
-Covered by the 4th amendment
-A reasonable search:
*searches done on property that belongs to the company or if there was never any implied privacy to something such as a locker given to you at work that the hr or manager also knows the combo to
-How emps can prove invasion
*Deception
*Violation of confidentiality
*Secret, intrusive monitoring
*Intrusion on your private life |
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Term
| How has the Privacy Act of 1974, Americans with Disabilities Act, and Colorado law affected personnel records |
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Definition
The privacy act requires federal agencies to permit employees to examine, copy, correct, or amend employee information in their personal file
Americans with disabilities has made it so that our employee file and medical file must be kept separately
I CO we as employees have to right to view our records. |
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Term
| Do employees have freedom of speech in the workplace? When is whistleblowing protected? |
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Definition
-Freedom of speech is limited in the workplace
-whistleblowing is protected when the company has a whistleblowing policy, or the sate has a whistleblowing law |
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