HRstudyguide3 - Study Guide for MGT 303, Final Exam The...

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Study Guide for MGT 303, Final Exam The following are key terms and concepts that you should be familiar with for the exam: turnover – voluntary/involuntary costs of excessive turnover causes of turnover reducing unwanted turnover job withdrawal job satisfaction, organizational commitment exit interview components of compensation (i.e., base pay, incentives, premium pay, pay for non-work time, COLA, benefits) pay level, pay structure internal/external equity legal constraints on pay – non-discrimination, minimum wage, OT exempt/non-exempt employees pay surveys benchmark (“key”) jobs job evaluation compensable factors pay policy line pay grade, pay range compa-ratio executive pay skill-based pay broadbanding international pay differentials comparable worth expectancy theory – expectancy, instrumentality, valence agency theory incentive pay plans piecework, commissions, merit pay, lump sum bonuses group incentive plans, gainsharing plans (e.g., Scanlon Plans) profit sharing, stock options problems with incentive plans considerations in implementing incentive plans benefits cost of benefits Social Security unemployment insurance health insurance health maintenance organization (HMO) preferred provider organization (PPO) consumer-directed health plan premium, deductible, co-payment, co-insurance, out-of-pocket maximum
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flexible spending account, health savings account (HSA) pre-existing condition exclusions strategies for health care cost containment wellness programs continuation coverage - COBRA pension plans defined benefit plan, defined contribution plan, cash balance plan vesting, portability trends in pension coverage problems with pension plans cafeteria-style benefit plans occupational safety and health causes of workplace injuries and illnesses employer responsibilities under the Occupational Safety and Health Act OSHA inspections workplace safety and health programs controls (e.g., engineering, administrative, training, personal protective equipment) Workers’ compensation labor unions collective bargaining unfair labor practices union organizing representation elections good faith bargaining mediation strikes and lock-outs labor agreements (contracts) grievances, grievance procedures arbitration differences between unionized and non-union workplaces globalization domestic, international, multinational, global firms global HR issues encountered when operating facilities in other countries expatriates host country nationals, home country nationals, third country nationals reasons for success or failure in overseas assignments inter-cultural competence HR role in facilitating the success of overseas assignments problems in international compensation repatriation (reacculturation) Sample questions
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The following illustrate the types of questions that you will see on the exam. I suggest that you attempt to answer the questions on your own before you consult the answers that follow the sample questions. I. Correctly advise this employer.
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HRstudyguide3 - Study Guide for MGT 303, Final Exam The...

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