MGMT 317 - QUIZ 4 STUDY GUIDE

MGMT 317 - QUIZ 4 STUDY GUIDE - QUIZ 4 STUDY GUIDE 1 Pay...

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QUIZ 4 STUDY GUIDE 1) Pay level: average amount the organization pays for a particular job Pay structure: pay policy resulting from job structure and pay-level decisions 2) Equity: my outcomes/inputs = your outputs/inputs Inequity happens when I feel my inputs and your inputs create different outputs (rewards) - unrewarded employees: put forth less effort, find ways to increase outcome (e.g. stealing), withdraw (leave, refuse to cooperate) - Equality Pay structure Administrative tool Consequences 3) Internal equity: job structure  job evaluation  - internal employee movement - Cooperation - Employee attitudes External Equity: pay level  market pay surveys  - external employee movement - Labor costs - Employee attitudes 4) Job evaluation: administrative procedure for measuring the relative internal worth of the organization’s jobs - pay survey - Fair Labor Standards Act: establishes minimum wage ($7.25) - permits lower training wage (85% of minimum) - pay policy - pay structure: - pay-policy-line: pay rates
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  • Spring '13
  • Joo
  • Management, 85%, unemployment insurance, $7.25

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