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Compensation Management Mid-term Review

Compensation Management Mid-term Review. Dr. Barbara Lyon, SPHR HRM 516. Show what you know!. Comp. SWYK!. SWYK Instructions Each contestant will choose a category. (Ex: I’ll take FLSA for $200)

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Compensation Management Mid-term Review

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  1. Compensation ManagementMid-term Review Dr. Barbara Lyon, SPHR HRM 516

  2. Show what you know! Comp. SWYK!

  3. SWYK Instructions • Each contestant will choose a category. (Ex: I’ll take FLSA for $200) • Response must be in the form of a question. (Ex: What are the overtime exemption categories?) • Kick it up a notch with SWYK Kick items by choosing to double the value posted on the game board. • The three contestants with the largest amount in their $WYK CA$H Pot will play… SWYK SHOWDOWN!

  4. SWYK Board Instructions • Select a category on the main game board (slide 4). • On the main game board, click on the dollar amount of the item chosen. The item will appear on a separate slide. • To reveal the correct response, click in the blue space under the question. • To return to the main game board, click on the yellow arrow/box.

  5. Comp Mgmt Intro. Job Evaluation Salary Surveys Job Analysis & Design FLSA $100 $100 $100 $100 $100 $500 $500 $500 $500 $500 $1000 $1000 $1000 $1000 $1000 $2000 $2000 $2000 $2000 $2000 $5000 $5000 $5000 $5000 $5000

  6. A: From most employees’ perspectives, the most important part of the compensation package. Q: What is based pay/wages/salaries? ($1.00)

  7. A:These affect both current and future standards of living. Q: What are employee benefits and services? ($5.00)

  8. A: All rewards that can be classified as monetary payments and/or in-kind payments. Q: What is a compensation system? ($10.00)

  9. A: This establishes a general guidelines for decisions and actions to be taken by all organizational members. Q: What is the organization’s philosophy? ($20.00)

  10. A: A statement of what the organization wants to accomplish in the long-term. Q: What is the organization’s mission? ($50.00)

  11. A: The exemption classification assigned to outside sales workers. Q: What is exempt? ($1.00)

  12. SWYK KICK A: The type of employee who is hired for a specific job, is expected to meet minimum performance requirements, and who normally works between 35 and 40 hours per week. Q: What is a regular employee? ($5.00)

  13. A:The FLSA definition of overtime. Q:What is time suffered or permitted to work over 40 hours in a workweek? ($10.00)

  14. A: Employees who regularly perform non-routine assignments requiring originality, discretion, independent judgment, innovative abilities, and analytical skills. Q: Who are professionals? ($20.00)

  15. A:The three major provisions of the FLSA. Q:What are over time, minimum wage, and child labor? ($50.00)

  16. A:A Department of Labor reference book that lists many job titles and critical job duties/tasks; also provides a 9-digit code for each job. Q:What is the Dictionary of Occupational Titles (DOT)? ($1.00)

  17. A:An ADA-related term that describes work activities that the incumbent must be able to perform, either unaided or with reasonable accommodation. Q:What is essential job functions? ($5.00)

  18. A:Success in writing an accurate job description depends primarily on the availability of this. Q:What is sufficient data? ($10.00)

  19. A:This worker oriented job analysis inventory has 194 job elements and helps to group jobs by common characteristics. Q:What is the Position Analysis Questionnaire (PAQ)? ($20.00)

  20. SWYK KICK A:The three most common methods used to collect job information. Q:What are interview, observation, and questionnaire? ($50.00)

  21. A:The extent to which an employer depends on the employee to perform the job as expected, with emphasis on the importance of job obligation. Q:What is responsibility? ($1.00)

  22. A:Job evaluation issues are generally concerned about this. Q:What is internal equity? ($5.00)

  23. A:The job evaluation method used by the U.S. Office of Personnel Management. Q:What is the Factor Evaluation System (FES)? ($10.00)

  24. A:The four universal compensable factors. Q:What are skill, effort, responsibility, and working conditions? ($20.00)

  25. A:The three universal compensable factors used to evaluate all jobs under the Hay plan. Q:What are know-how, problem solving, and accountability? ($50.00)

  26. A:These jobs are used to make pay comparisons within or outside of the organization. Q:What are benchmark jobs? ($1.00)

  27. A:This, the most commonly used survey method, requires respondents to match benchmark jobs with similar jobs in their organizations. Q:What is job matching? ($5.00)

  28. A: When measuring survey statistics, this reduces the influence of an unusual population. Q:What is modified weighted average? ($10.00)

  29. A:Bureau of Labor Statistics (BLS); Watson-Wyatt Data Services/ ECS; The Hay Group; Economic Research Institute (ERI); William M. Mercer; Organization Resources Council, Inc. Q:What are the major sources of third party pay data / wage surveys? ($20.00)

  30. A:Hiring and retaining competent employees; promoting worker productivity; developing an effective pay structure; recognizing pay trends; defending pay practices during litigation. Q:What are the major reasons for conducting a wage survey? ($50.00)

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