STUDY SHEET FOR MGMT 384_12_13_14

STUDY SHEET FOR MGMT 384_12_13_14 - STUDY SHEET FOR MGMT...

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STUDY SHEET FOR MGMT 384 Exam 3 Chapters 12, 13 & 14 Chapter 12 – Total Rewards and Compensation What makes up the total compensation package for an employee? What outcomes does and organization want from their compensation system? What are some of the current trends in compensation? What differences in “philosophy” are there regarding compensation for employees – what do employees have a “right to expect?” What laws affect compensation and what requirements do companies have? What is a pay secret organization – what are the costs and benefits? What is job evaluation and what types of methods are there? What is a compensable factor mean?? What does “exempt status” mean – how do you know if an employee is exempt? What is a pay structure, a job family, a pay grade? What is broad-banding – why is it helpful to many organizations? What types of individual pay increase are there? What do they each reward?
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