Fundamentals of Human Resource Management Chapter 12

Job Structure (P367)

The relative pay for different obs within the organization

Pay Level (P367)

The average amount (including wages, salaries, and bonuses) the organization pays for a particular job.

Pay Structure (P367)

The pay policy resulting from job structure and pay-level decisions.

Minimum Wage (P369)

The lowest amount that employers may pay under federal or state law, stated as an amount of pay per hour.

Fair Labor Standard Act (FLSA) (P369)

Federal law that establishes a minimum wage and requirements for overtime pay and child labor.

Exempt Employees (P370)

Managers, outside sales people, and any other employees not covered by the FLSA requirement for overtime pay.

Nonexempt Employees (P371)

Employees covered by the FLSA requirements for overtime pay.

Benchmarking (P375)

A procedure in which an organization compares its own practices against those of successful competitors.

Job Evaluation (P379)

An administrative procedure for measuring the relative internal worth of the organization's jobs.

Hourly Wage (P380)

Rate of pay for each hour worked

Piecework Rate (P380)

Rate of pay for each unit produced

Salary (P380)

Rate of pay for each week, month, or year worked

Pay Policy Line (P380)

A graphed line showing the mathematical relationship between job evaluation points and pay rate

Pay Grades (P381)

Sets of jobs having similar worth or content, grouped together to establish rates of pay.

Pay Range (382)

A set of possible pay rates defined by a minimum, maximum, and midpoint of pay for employees holding a particular job or a job within a particular pay grade

Pay Differential (P383)

Adjustment to a pay rate to reflect differences in working conditions or labor markets.

Delayering (P384)

Reducing the number of levels in the organization's job structure

Skill-Based Pay Systems (P384)

Pay structures that set pay according to the employees' levels of skill or knowledge and what they are capable of doing.