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SHRM Exam #3
| Term | Definition |
|---|---|
| What is internal equity? | employee perceptions of fairness based on how much they are paid relative to others working in the same org |
| What is external equity? | employees perceptions of fairness based on how much they are paid relative to people working in other orgs |
| What is salary compression? | created when new employees receive higher pay than employees who have been w/ the org for a long time + perform the same job |
| What are the 5 theories of motivation? | Reinforcement Theory, Goal-Setting Theory, Equity Theory, Expectancy Theory, Justice Theory |
| What are the different pay-level strategies? | 1. Meet the Market 2. Lag the Market 3. Lead the Market |
| What is job-based pay? | determination of how much to pay an employee that is based on assessments about the duties performed |
| How is job-based pay useful? | clear method for controlling + administering pay; objective |
| What is skill-based pay? | determination of how much to pay an employee that is based on skills, even if those skills are not used to perform duties |
| How is skill-based pay useful? | tie pay increases to the development of skills useful to the org |
| What is the Fair Labor Standards act? | Established in 1938; set the national minimum wage, regulates overtime, established guidelines for employing children, and regulates fair pay |
| What are exempt employees? | Workers who are not covered by FLSA; receive a higher overtime rate - usually salaried workers |
| What are non-exempt employees? | workers who are covered by FLSA usually hourly workers |
| Employee Compensation | paying and rewarding people for their contributions to the org |
| Compensation Influences | Law, Market, Job, Worker |
| Minimum Wage Practices | Federal is $7.25; states can have higher minimum wages tipped labor is different |
| Legally Required Benefits | social security, unemployment insurance, workers compensation, healthcare |
| Market Based Approaches | determines pay by assessing how much employees could make in the same job at another org |
| Hay System (Points-Based) | know how, problem solving, accountability, working conditions |
| Reinforcement Theory | people are motivated by antecedents (environmental cues) and consequents (rewards and punishments) |
| Contingency | Reinforcement principles; requires that desirable consequences only be given after the occurrence of a desirable behavior |
| Equity Theory | motivation depends on the outcomes received by other employees |
| What is At-Risk Compensation? | Compensation where the amount varies across pay periods depending on performance. |
| What is line of sight? | extent to which employees can see that their actions influence the outcomes used to determine whether they receive a particular reward |
| What is unemployment insurance? | network of state-mandated insurance plans that provide monetary assistance to workers who lose their jobs through no fault of their own funded entirely by employers |
| What are the four common elements of compensation packages? | base pay, individual incentive, group incentive, employee benefits |
| Legally Required Benefits | Social security, unemployment insurance, workers compensation |
| When was the Affordable Care Act established? | established in 2010 of March |
| What did the Affordable Care Act do? | 1. all must have health insurance or pay a fine 2. biz w/ less than 50 employees get tax credit if provide health insu 3. if 50+ employees must provide health insu or pay fine 5. cant cancel or deny coverage to ill person |
| What are the discretionary benefits? | Offering more than what is legally required; health- care plans, supplemental insurance, retirement savings, and pay without work |
| How do individual incentives motivate productivity? | individuals who perform the required actions, or obtain the desired outcomes, are rewarded |
| What are individual incentives ? | piece-rate incentives, commissions, merit pay increases, and merit bonuses |
| How do group based incentives motivate productivity? | use organizational incentives to encourage employees to develop a sense of ownership in the organization + work is increasingly being structured around teams |
| What are group-based incentives? | profit sharing, stock plans, goal based reward, gainsharing, team bonus, |
| What is a labor union? | organization representing the collective interests of workers. |
| What is a boycott? | organized action in which consumers refuse to purchase goods or services from a company; unions engaged in labor disputes may support boycotts of the companies involved in the disputes |
| What are the laws relevant to labor unions? | o Wagner Act o Taft-Hartley Act o Landrum-Griffin Act |
| What is vertical alignment? | HR strategy supports the business strategy ex: how HR hiring strategies support new initiatives |
| What is horizontal alignment? | how HR practices fit w/ each other ex: how work design aligns w/ performance management |
| Wagner Act | established in 1935; right to form union + created the National Labor Relations Board, prohibits management from engaging in unfair labor practices |
| What are unfair labor practices for management? | threatening employees w/ termination or loss of benefits, spying on union meetings, questioning employees about the union, giving wage increases timed to discourage employees from forming a union |
| Taft-Hartley Act | established in 1947; regulates union activities and requires unions to bargain in good faith + created right to work |
| What is right to work? | employees not required to join or contribute to a union |
| What are unfair labor practices for labor unions? | mass picketing that physically stops others, threatening harm to others, threatening loss of jobs, entering contract w/out majority, fining or expelling members for filing unfair labor charges w/ the NLRB |
| Landrum-Griffin Act | established in 1959; aimed at preventing corruption + regulates internal union affairs + put requirements on voting, fees, and meeting participation |
| Why has there been a decline in union membership across the United States? | - automation in manufacturing (highly unionized sector) - orgs have become hostile to unions + better at fightig them - |
| Labor Union Organization Process | 1. Authorization Card Campaign 2. Representation Election Request 3. NLRB Election Two Outcomes a. Union Certified Collective Bargaining Begins b. Union Defeated Election Barred for 12 months |
| Authorization Card Campaign | need 30% of employee signatures on authorization cards |
| Representation Election Request | is the bargaining unit certified as appropriate? |
| What affects a union's outcome? | need at least 50% of votes |
| Rational Strategic Approach | organizational leaders carefully plan a strategy before carrying it out |
| Evolutionary Strategic Approach | organization’s strategy unfolds over time in response to common issues |
| What is a secondary boycott? | boycott by unionized employees that is meant to pressure a company not to purchase goods and services from another company that is engaged in a labor dispute with a union; not allowed |
| What is featherbedding? | union requires a company to pay employees wages for work that is not performed; not allowed |
| What are the different types of shops? | closed, union, agency, open |
| Closed Shop | organization that hires only workers who belong to a certain union |
| Union Shop | organization that requires workers to join a union as soon as they are hired |
| Agency Shop | organization that requires employees to pay the equivalent of union dues even if they are not union members |
| Open Shop | organization that does not require employees to affiliate with or pay dues to the union elected to represent the organization’s employees |
| Work Stoppages | failure to reach agreement; work stoppage can be initiated by either the employer or the union |
| Lockout | employer closes a workplace or otherwise prevents union members from working as a result of a labor dispute |
| Strike | union members refuse to perform their job duties as a result of a labor dispute |
| Goal-Setting Theory | motivation is fostered w/ specific and difficult goals |
| Justice Theory | motivation is driven by beliefs about fairness |
| Expectancy Theory | motivation = expectancy * instrumentality* valence |
| Expectancy | expect effort to affect our performance |
| Instrumentality | expect performance to affect rewards or outcomes |
| Valence | desirability of outcomes; extrinsic vs intrinsic |
| Types of Reinforcement | positive, negative, punishment, and extinction |
| Social Security | requires workers + employer to pay into a retirement fund, from which they will draw when they have reached a certain age |
| Worker's Compensation | provide workers and families with compensation for work-related accidents and injuries funded by employers |
| Bargain Laborer Compensation | high % base pay, minimum wage, piece-rate systems |
| Free Agent Compensation | high % at risk, commissions, merit bonuses, profit sharing w/ short horizon, stock plan w/ short horizon, piece-rate systems |
| Loyal Soldier Compensation | base pay, good employee benefit, piece-rate systems, gainsharing, profit sharing + stock plan w/ long horizon |
| Committed Expert | at risk pay, good employee benefits, commissions, merit pay, profit sharing + stock plan w/ long horizon |
Created by:
Zetiris
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