Compensation - Ch. 1 Terms

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Across
  1. 6. An HR executive, manager, or non-manager who is typically concerned with only one of the areas of compensation practice
  2. 8. Provides employees with pay for time when they are not working
  3. 10. Collect and then analyze competitors’ compensation data
  4. 14. Includes both monetary and nonmonetary rewards
  5. 15. A system to reward employees with periodic additions to base pay according to employees’ length of service in performing their jobs
  6. 17. Clearly define the relative value of each job among all jobs within a company
  7. 19. Skill, effort, responsibility, and working condition factors
  8. 20. Program that assumes that employees’ compensation over time should be determined, at least in part, by differences in job performance as judged by supervisors or managers
  9. 21. Employees that are directly involved in producing companies’ goods or delivering their services
  10. 23. Particular sets of benefits the U.S. government requires employers to offer to employees
  11. 24. Compensation that fluctuates according to employees’ attainment of some standard based on a preestablished formula, individual or group goals, or company earnings
  12. 26. Refers to sets of collective skills, knowledge, and abilities that employees can apply to create value for their employers
  13. 29. A a systematic process for gathering, documenting, and analyzing information in order to describe jobs
  14. 30. Programs that reward managerial, service, or professional workers for successfully learning specific curricula
  15. 32. Recurring money employees receive for doing their jobs
  16. 34. Specify the use of multiple HR practices to reinforce competitive business strategy
  17. 37. Describes a company’s success when the company acquires or develops capabilities that facilitate outperforming the competition
  18. 38. A human resource professional that may be an executive that performs tasks in a variety of HR-related areas
  19. 39. The planned use of company resources—financial capital, equipment capital, and human capital— to promote and sustain competitive advantage
  20. 41. Monetary compensation
  21. 42. Employees’ knowledge and skills (human capital) add value
Down
  1. 1. Legally required benefits that attempt to promote worker safety and health, maintain the influx of family income, and assist families in crisis
  2. 2. Compensation professionals build market-competitive compensation systems based on the results of compensation surveys
  3. 3. Refers to the design and implementation of compensation systems to reinforce the objectives of both HR strategies and competitive business strategies
  4. 4. Provide income to individuals throughout their retirement
  5. 5. Employees that support the line functions
  6. 7. Companies adopt this strategy when they develop products or services that are unique from those of their competitors
  7. 9. Focuses on gaining competitive advantage by being the lowest-cost producer of a product or service within the marketplace, while selling the product or service at a price advantage relative to the industry average
  8. 11. Include minimum, maximum, and midpoint pay rates
  9. 12. Any variety of programs that provide paid time off, employee services, and protection programs that are offered on a discretionary basis
  10. 13. Programs that reward employees for specifically learning new curricula
  11. 16. Reflects employees’ psychological mind-sets that result from performing their jobs
  12. 18. Programs that reward employees for specifically learning new curricula
  13. 22. Provide such enhancements as tuition reimbursement and day care assistance to employees and their families
  14. 25. Represent pay rate differences for jobs of unequal worth and the framework for recognizing differences in employee contributions
  15. 27. Represent periodic base pay increases that are founded on changes in prices as recorded by the Consumer Price Index (CPI)
  16. 28. Programs that increase workers’ pay as they master new skills
  17. 31. A process to recognize differences in the relative worth among a set of jobs and to establish pay differentials accordingly
  18. 33. Non-monetary compensation
  19. 35. Companies may choose to award and amount, usually the equivalent of several months’ pay following involuntary termination
  20. 36. Group jobs for pay policy application
  21. 40. Base pay received for performing a job, regardless of the actual number of hours worked