Unit 6: Total Rewards

These flashcards cover key vocabulary related to the concepts of total rewards, intrinsic and extrinsic rewards, job evaluation, and equity in compensation, as discussed in Unit 6.

Total Rewards

A cluster of competencies related to the management of rewards within an organization.

Equitable Rewards Structures

Structures including compensation, pensions, benefits, and perquisites designed to create fairness.

Intrinsic Rewards

Rewards that relate to job content, such as skill variety and job autonomy.

Extrinsic Rewards

Rewards that relate to job context, such as monetary compensation and benefits.

Job Evaluation

The process of analyzing jobs to determine their worth within an organization.

Hygiene Factors

Aspects of work such as pay and working conditions that do not motivate but can lead to dissatisfaction.

Equity Theory

A motivation theory suggesting individuals are motivated by fairness in the workplace.

Reinforcement Theory

A theory proposing that behavior can be modified through rewards or punishments.

Pay Equity

The principle of equal pay for work of equal value, regardless of gender or other characteristics.

Performance Pay

Compensation based on performance, including bonuses and incentives.