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Chapter 11 quiz answers

Chapter 11 quiz answers - Chapter 11 Compensation 1 Equity...

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Chapter 11- Compensation 1. Equity Theory -A pay fairness theory that states that people form equity beliefs by comparing their outcome/input ratio to that of a referent other. - Relevant to employee compensation - workers compare their pay based on what others get paid. Inequity occurs when a worker feels that he/she worked just as hard as the other person, but earns a lower salary. 2. Job Evaluation - A systematic process for determining the worth of a job. Steps: Point-factor method -jobs are evaluated separately on several criteria, called compensable factors . These factors include: Skill/know-how, Knowledge, Effort, Mental Effort, Responsibility, and Working Conditions. Then a point rating scale is used to evaluate physical and mental effort. Then, job evaluators rate each job, one factor at a time. Last, sum all the points earned from each compensable factor. 3. Expectancy Theory- A motivation theory that focuses on the effort-to-performance and performance-to-reward links.
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