Wgu c202 managing human capital all
,1. Direct financial compensation - ✓✓✓compensation received in the form of salary,
wages, commissions, stock options or bonuses
2. indirect financial compensation - ✓✓✓all the tangible and financially valued rewards that
are not included in direct compensation including free meals, vacation time and health
insurance
3. nonfinancial compensation - ✓✓✓rewards and incentives given to employees that aren't
financial in nature
4. base pay - ✓✓✓reflects the size and scope of an employee's responsibilities
5. severance pay - ✓✓✓give to employees upon termination of their employment
6. fixed pay - ✓✓✓pays employees a set amount regardless of performance
7. variable pay - ✓✓✓bases some or all of an employee's compensation on employee, team,
or organizational
8. pay structure - ✓✓✓the array of pay rates for different work or skills within a single
organization
9. pay mix - ✓✓✓the relative emphasis give to different compensation components
10. pay leader - ✓✓✓organization with a compensation policy of giving employees greater
rewards than competitors
P a g e 1 | 134
,11. pay follower - ✓✓✓an organization that pays its front-line employees as little as possible
12. resource dependence theory - ✓✓✓proposition that organizational decisions are
influenced by both internal and external agents who control critical resources
13. wage differentials - ✓✓✓differences in wage between various workers, groups of
workers, or workers within a career field
14. labor market - ✓✓✓all of the potential employees located within a geographic area from which
the organization might be able to hire
15. cost of living allowances - ✓✓✓clauses in union contacts that automatically increase wages
base on the U.S. Bureau of Labor Statistics' cost of living index
16. market pricing - ✓✓✓uses external sources of information about how others are
compensating a certain position to assign value to a company's similar job
17. Compensation surveys - ✓✓✓surveys of other organizations conducted to learn what they
are paying for specific jobs or job classes
18. benchmark jobs - ✓✓✓jobs that tend to exist across departments and across diverse
organizations allowing them to be used as a basis for compensation comparisons
19. job evaluation - ✓✓✓a systematic process that uses expert judgement to assess
differences in value between jobs
20. ranking methos - ✓✓✓subjectively compares jobs to each other based on their overall worth
to the organization
P a g e 2 | 134
, 21. job classification method - ✓✓✓subjectively classifies jobs into an exiting hierarchy of grades
and categories
P a g e 3 | 134
,1. Direct financial compensation - ✓✓✓compensation received in the form of salary,
wages, commissions, stock options or bonuses
2. indirect financial compensation - ✓✓✓all the tangible and financially valued rewards that
are not included in direct compensation including free meals, vacation time and health
insurance
3. nonfinancial compensation - ✓✓✓rewards and incentives given to employees that aren't
financial in nature
4. base pay - ✓✓✓reflects the size and scope of an employee's responsibilities
5. severance pay - ✓✓✓give to employees upon termination of their employment
6. fixed pay - ✓✓✓pays employees a set amount regardless of performance
7. variable pay - ✓✓✓bases some or all of an employee's compensation on employee, team,
or organizational
8. pay structure - ✓✓✓the array of pay rates for different work or skills within a single
organization
9. pay mix - ✓✓✓the relative emphasis give to different compensation components
10. pay leader - ✓✓✓organization with a compensation policy of giving employees greater
rewards than competitors
P a g e 1 | 134
,11. pay follower - ✓✓✓an organization that pays its front-line employees as little as possible
12. resource dependence theory - ✓✓✓proposition that organizational decisions are
influenced by both internal and external agents who control critical resources
13. wage differentials - ✓✓✓differences in wage between various workers, groups of
workers, or workers within a career field
14. labor market - ✓✓✓all of the potential employees located within a geographic area from which
the organization might be able to hire
15. cost of living allowances - ✓✓✓clauses in union contacts that automatically increase wages
base on the U.S. Bureau of Labor Statistics' cost of living index
16. market pricing - ✓✓✓uses external sources of information about how others are
compensating a certain position to assign value to a company's similar job
17. Compensation surveys - ✓✓✓surveys of other organizations conducted to learn what they
are paying for specific jobs or job classes
18. benchmark jobs - ✓✓✓jobs that tend to exist across departments and across diverse
organizations allowing them to be used as a basis for compensation comparisons
19. job evaluation - ✓✓✓a systematic process that uses expert judgement to assess
differences in value between jobs
20. ranking methos - ✓✓✓subjectively compares jobs to each other based on their overall worth
to the organization
P a g e 2 | 134
, 21. job classification method - ✓✓✓subjectively classifies jobs into an exiting hierarchy of grades
and categories
P a g e 3 | 134
