4-24-06 test review

4-24-06 test review - Chap 18 slide 24 will definitely be...

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Chap 18 – slide 24 will definitely be on test Internal vs. external equity Pay secrecy – bad Labor market competition places a lower boundary on how much you can pay an employee. Efficiency wage theory Job ranking system Benchmarking with regards to employee pay – looking at competitors 1938 fair labor standards act – minimum wages Comparable worth – with regards to EEO Chap 19 Agency theory – agreement between principal (owners) and agent (managers) o At least 2 questions from this Straight piece work (paid per unit of output) vs Differential piece work (paid per unit out output, but get bonus if going over the quota) Bonus – reward you get one time Merit pay AKA a raise – affects base salary – only get if you exceed expectations o Problems – people can come to expect it every year Trust gap – employees don’t trust the CEO because they make so much more money Profit sharing vs. Stock Options Chap 20 Job Design – finding out what needs done then putting together a job that gets it
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4-24-06 test review - Chap 18 slide 24 will definitely be...

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