Intro to Human Resources Test 3

Voluntary Turnover

Turnover initiated by the employee

What is involuntary turnover

Turnover initiated by the employer

What is the Employment at Will doctrine

Employers or employees can end employment at any time, for any legal reason

What are the steps of Alternative Dispute Resolution (ADR)

Open-door policy --- Peer review --- Mediation --- Arbitration

What is outplacement

Support for laid-offs employees, such as job search assistance

What is job withdrawal

Disengagement from work due to dissatisfaction

What is job rotation

Moving employees among roles to build skills and reduce boredom

What is an exit interview

A meeting to understand why an employee is leaving and gather feedback

What is benchmarking

Comparing your company's practices to industry leaders

What does FLSA stand for

Fair Labor Standards Act

What does FLSA regulate

Minimum wage, overtime, child labor, and recordkeeping

What is delayering

Removing organizational levels to simplify structure

What is the glass ceiling

Invisible barrier preventing career advancement for minorities/women

What are stock options

The right to buy company stock at a set price

What is merit pay

Raises based on individual performance

What is a compa-ratio

Salary/Market midpoint of the pay range

What is incentive pay

Pay linked to performance

What is gainsharing

Group bonuses for improved performance or cost savings

What are employee stock options

Allow employees to buy stock at a favorable price

What is unemployment insurance

Temporary income for eligible unemployed workers

What is workers' compensation

Insurance for job-related injuries/illnesses

What is COBRA

Allows continuation of health insurance after job loss

What is FMLA

Up to 12 weeks unpaid leave for family/medical reasons

What does Social Security provide

Retirement, disability, and survivor benefits

What does ERISA regulate

Retirement and welfare benefit plans

What is the largest national labor union

AFL-CIO

What is a checkoff provision

Employer deducts union dues directly from paychecks

What is collective bargaining

Negotiation between unions and employers on work conditions