Describe how employees evaluate the fairness of a pay structure. Be able to explain
what equity theory is and ways people react when there is under or over-rewarded
equity. (pgs 383-386)
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, EXTERNAL:
- what they think employees in other orgs earn for doing the same job
-employees in other orgs are marking for the same job
WORTH:
- what they think other employees holding different jobs within the org
earn for doing work at the same of different levels
INTERNAL:
- what they think other employees in the org for doing the same job as
theirs
EQUITY THEORY: people measure outcomes such as pay in terms of their
inputs and in comparison with others'
What is the average % cost of benefits per dollar paid to employees? (pg 431)
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31.7%
How do ability and motivation affect performance?
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when employees have high levels of ability and motivation, they perform at
or above standards.
LACK OF ABILITY: manager may offer coaching, training, and more detailed
feedback (sometimes it is appropriate to restructure the job so the
employee can handle it).
LACK OF MOTIVATION: managers can explore ways to demonstrate that
the employee is being treated fairly and rewarded adequately.
, LACK OF BOTH: manager directs the employee's attention to the
significance of the problem by withholding rewards or providing specific
feedback.
LACK OF NEITHER: solid performers and managers should use rewards,
direct feedback, and growth opportunities.
What are basic definitions of pay ranges, salary grades, KNOW compa-ratios, (pgs
387-392)
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pay range: a set of possible pay rates defined by a minimum, maximum, and
midpoint of pay for employees holding a particular job or a job within a
particular pay grade
pay grades: sets of jobs having similar worth or content, grouped together
to establish rates of pay-drawback: rates of pay do not exactly match the
market and job structure levels of pay
salary: a rate of pay per month or year
compa-ratio: the ratio of average pay to the midpoint of the pay range -
should be close to 1
-index the relative competitiveness of internal pay rates based on pay
range midpoints
Labor Markets
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, the supply pool from which employers attract employees
-overall decline in workforce readiness of new entrants in labor market
What is employee engagement? Understand its organizational benefits (higher
productivity, etc.). (pgs 349-350)
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EMPLOYEE ENGAGEMENT = degree to which employees are fully involved
in their work and strength of commitment to job and company.
ORGANIZATIONAL BENEFITS = retaining employees helps retain
customers, lower turnover leads to more satisfied employees who perform
better, increased profits
Describe the most common forms of leave, both paid and unpaid. Know FMLA big
time!
Give this one a try later!
what equity theory is and ways people react when there is under or over-rewarded
equity. (pgs 383-386)
Give this one a try later!
, EXTERNAL:
- what they think employees in other orgs earn for doing the same job
-employees in other orgs are marking for the same job
WORTH:
- what they think other employees holding different jobs within the org
earn for doing work at the same of different levels
INTERNAL:
- what they think other employees in the org for doing the same job as
theirs
EQUITY THEORY: people measure outcomes such as pay in terms of their
inputs and in comparison with others'
What is the average % cost of benefits per dollar paid to employees? (pg 431)
Give this one a try later!
31.7%
How do ability and motivation affect performance?
Give this one a try later!
when employees have high levels of ability and motivation, they perform at
or above standards.
LACK OF ABILITY: manager may offer coaching, training, and more detailed
feedback (sometimes it is appropriate to restructure the job so the
employee can handle it).
LACK OF MOTIVATION: managers can explore ways to demonstrate that
the employee is being treated fairly and rewarded adequately.
, LACK OF BOTH: manager directs the employee's attention to the
significance of the problem by withholding rewards or providing specific
feedback.
LACK OF NEITHER: solid performers and managers should use rewards,
direct feedback, and growth opportunities.
What are basic definitions of pay ranges, salary grades, KNOW compa-ratios, (pgs
387-392)
Give this one a try later!
pay range: a set of possible pay rates defined by a minimum, maximum, and
midpoint of pay for employees holding a particular job or a job within a
particular pay grade
pay grades: sets of jobs having similar worth or content, grouped together
to establish rates of pay-drawback: rates of pay do not exactly match the
market and job structure levels of pay
salary: a rate of pay per month or year
compa-ratio: the ratio of average pay to the midpoint of the pay range -
should be close to 1
-index the relative competitiveness of internal pay rates based on pay
range midpoints
Labor Markets
Give this one a try later!
, the supply pool from which employers attract employees
-overall decline in workforce readiness of new entrants in labor market
What is employee engagement? Understand its organizational benefits (higher
productivity, etc.). (pgs 349-350)
Give this one a try later!
EMPLOYEE ENGAGEMENT = degree to which employees are fully involved
in their work and strength of commitment to job and company.
ORGANIZATIONAL BENEFITS = retaining employees helps retain
customers, lower turnover leads to more satisfied employees who perform
better, increased profits
Describe the most common forms of leave, both paid and unpaid. Know FMLA big
time!
Give this one a try later!
