Chapter 9 Flashcards

1
Q

Job evaluation

A

Systematic process of assessing job content and ranking jobs according to a consistent set of job characteristics and worker traits

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2
Q

Job ranking

A

Form of job evaluation in which jobs are ranked subjectively according to their overall worth to the organization

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3
Q

Job grading

A

A form of job evaluation that assigns jobs to predetermined job classifications according to their relative worth to the organization

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4
Q

Point system

A

A form of job evaluation that assesses the relative importance of the job’s key factors in order to arrive at the relative worth of jobs

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5
Q

Internal vs external equity

A

Perceived equity of a pay system in an org

Perceived fairness in pay relative to what other employers are paying for the same type of work

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6
Q

Key job

A

Job that is similar and common in the organization and its labour market

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7
Q

Red/silver/gold/green-circled rates

A

Red=higher than established pay rate (e.g. premium paid for hard to find workers)
Silver=higher than the max for long tenured employee
Gold=higher than the max for merit pay
Green=lower than the minimum (e.g. trainee)

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8
Q

Compa-ratio

A

Index that indicates how an individual’s or group’s salary relates to the midpoint of their relevant pay grades

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9
Q

Equal pay for work of equal value vs.

Equal pay for equal work

A

Equal pay for men and women in jobs with comparable content

Equal rates for all employees performing the same kind/amount of work

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