123. Organizations that
emphasize nonmonetary rewards are often trying to encourage and reinforce
individual achievement and responsibility among employees.
124. Open pay policies tend to lead to greater dissatisfaction among
employees as employees compare compensation with each other.
125. In a company where pay
decisions are decentralized, the managers of each unit often have the responsibility of determining
compensation for employees.
126. Skill-based pay assumes
that workers should be paid according to how flexible or capable they are at
performing multiple tasks.
127. The first step in achieving
pay equity for job-based compensation plans is conducting a job analysis.
128. Compensable factors are
concrete terms relating to the necessary education, skill, and work experience
for compensation at a particular level.
129. Calvinâ€™s compensation
committee is evaluating the worth of a group of managerial
level jobs. Between the Hay and MAA systems,
his best choice would be the Hay
130. A job hierarchy lists jobs in order of their importance to an
131. In order to achieve external
equity, a company must first benchmark key jobs.
132. Job-based compensation is
more subjective than it is objective.
133. It is not the employeesâ€™ perceptions of equity that count; it is
the reality of equity.
134. Job banding entails replacing
narrowly defined job descriptions with broad categories of related jobs.
135. In skill-based compensation plans, employees acquire depth skills
when they learn self-management abilities, such as scheduling, organizing, etc.
136. Some companies, in order to
dodge costs related to the Fair Labor Standards Act, will claim more exempt
employees than nonexempt employees.
137. While the Fair Labor Standards Act dictates that employers pay
workers overtime for each hour they work over 40 hours in a week, it does not
dictate the rate they must be paid. Employers may pay anywhere from 1/2 to 1
time their regular wage.
138. The term â€œcomparable worthâ€ means essentially the same thing as
equal payâ€”that men and women must be paid the same wage for the same job.