ACING BUSMHR 3200 EXAMS: ESSENTIAL QUESTIONS
AND ANSWERS FOR THE A+.
What does the SMART goals acronym stand for?
S- Specific
M-Measurable
A-Achievable
R-Relevant
T- Time-based
How should goals be made?
Goals should be difficult but achievable
Employers should provide regular feedback and treat employees equitably depending on goal
attainment
What is organizational Justice?
How do I feel about how a decision was made and and how I was impacted. Aim for it to be high
What is distributive justice?
How do I feel about the decision itself
What is procedural justice?
How do I feel about the process of the decision
What is interactional justice
How do I feel about how the implementation of the decision was made
What is job satisfaction?
Most work/outcomes
May not necessarily be high performing, innovative, or enthusiastic,
What is employee engagement?
an individual's involvement, satisfaction, and enthusiasm for work
What is the definition of compensation?
The rewards, usually monetary in nature (short and or long term) that reinforce behavior, organizational
membership, performance, and retention
What do we mean by "Total rewards"?
The sum of all the things in the work experience that affect an employee
--GOAL: find a set that is meaningful to the widest range of employees
What is the performance management cycle?
, 1. Starts with goals- do you know what you are supposed to be doing
2. Quarterly reviews- catch up with how you're doing
3. Performance review
4. All leads to rewards, merit increase
What is compensation strongly related to?
Individual motivation, engagement, and retention
What is the equal Pay act of 1963?
Both men and women with the exact same attributes should be paid the exact same
What are exempt jobs?
Not included in the provisions of the fair labor standards act
What is the fair labor standards act?
Enacted to establish a minimum hourly wage, overtime pay and regulate child labor
What are non-exempt jobs?
you are NOT exempted in the provisions of the fair labor standards act- you get overtime
What is benchmarking?
Making sure your compensation is competitive or at least know what your competitors offer
What are pay levels/pay grades?
Normally a lot of levels and you have to go to HR in order to move up in "levels"
What are pay bands?
A lot bigger ranges than pay levels, normally between 10k-20k, by the time your at the top you're about
ready to move to the next band anyway. This allows more flexibility within organizations
What is merit pay?
Think salary; Merit increase: Salary goes up, Merit increase grid: helps bring about increased equity over
time
What is incentive/variable compensation?
Can be two things
1. Supplemental- commissions in addition to base pay
2. Sole source of income- realtor, server
Has to be communicated all the way through the organization
What are stock options?
one form of ownership organizations can use to keep people for long term
Give you the option to buy stock in the future for the price that is at a given point (strike date)
AND ANSWERS FOR THE A+.
What does the SMART goals acronym stand for?
S- Specific
M-Measurable
A-Achievable
R-Relevant
T- Time-based
How should goals be made?
Goals should be difficult but achievable
Employers should provide regular feedback and treat employees equitably depending on goal
attainment
What is organizational Justice?
How do I feel about how a decision was made and and how I was impacted. Aim for it to be high
What is distributive justice?
How do I feel about the decision itself
What is procedural justice?
How do I feel about the process of the decision
What is interactional justice
How do I feel about how the implementation of the decision was made
What is job satisfaction?
Most work/outcomes
May not necessarily be high performing, innovative, or enthusiastic,
What is employee engagement?
an individual's involvement, satisfaction, and enthusiasm for work
What is the definition of compensation?
The rewards, usually monetary in nature (short and or long term) that reinforce behavior, organizational
membership, performance, and retention
What do we mean by "Total rewards"?
The sum of all the things in the work experience that affect an employee
--GOAL: find a set that is meaningful to the widest range of employees
What is the performance management cycle?
, 1. Starts with goals- do you know what you are supposed to be doing
2. Quarterly reviews- catch up with how you're doing
3. Performance review
4. All leads to rewards, merit increase
What is compensation strongly related to?
Individual motivation, engagement, and retention
What is the equal Pay act of 1963?
Both men and women with the exact same attributes should be paid the exact same
What are exempt jobs?
Not included in the provisions of the fair labor standards act
What is the fair labor standards act?
Enacted to establish a minimum hourly wage, overtime pay and regulate child labor
What are non-exempt jobs?
you are NOT exempted in the provisions of the fair labor standards act- you get overtime
What is benchmarking?
Making sure your compensation is competitive or at least know what your competitors offer
What are pay levels/pay grades?
Normally a lot of levels and you have to go to HR in order to move up in "levels"
What are pay bands?
A lot bigger ranges than pay levels, normally between 10k-20k, by the time your at the top you're about
ready to move to the next band anyway. This allows more flexibility within organizations
What is merit pay?
Think salary; Merit increase: Salary goes up, Merit increase grid: helps bring about increased equity over
time
What is incentive/variable compensation?
Can be two things
1. Supplemental- commissions in addition to base pay
2. Sole source of income- realtor, server
Has to be communicated all the way through the organization
What are stock options?
one form of ownership organizations can use to keep people for long term
Give you the option to buy stock in the future for the price that is at a given point (strike date)
