1. Boundless Lecture Slides Free to share, print, make copies and changes. Get yours at www.boundless.com Available on the Boundless Teaching Platform

2. Using Boundless Presentations The Appendix The appendix is for you to use to add depth and breadth to your lectures. You can simply drag and drop slides from the appendix into the main presentation to make for a richer lecture experience. Free to edit, share, and copy Feel free to edit, share, and make as many copies of the Boundless presentations as you like. We encourage you to take these presentations and make them your own. Free to share, print, make copies and changes. Get yours at www.boundless.com Boundless Teaching Platform Boundless empowers educators to engage their students with affordable, customizable textbooks and intuitive teaching tools. The free Boundless Teaching Platform gives educators the ability to customize textbooks in more than 20 subjects that align to hundreds of popular titles. Get started by using high quality Boundless books, or make switching to our platform easier by building from Boundless content pre-organized to match the assigned textbook. This platform gives educators the tools they need to assign readings and assessments, monitor student activity, and lead their classes with pre-made teaching resources. Get started now at: If you have any questions or problems please email: educators@boundless.com http://boundless.com/teaching-platform

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4. Forms of Financial Compensation Pay Systems Standard Benefits Fringe Benefits Compensation Human Resource Management > Compensation Free to share, print, make copies and changes. Get yours at www.boundless.com www.boundless.com/business?campaign_content=book_6020_section_73&campaign_term=Business&utm_campaign=powerpoint&utm_medium =direct&utm_source=boundless

5. There are six basic forms of compensation: salary, short-term incentives (STIs or bonuses), long-term incentive plans (LTIPs), benefits, paid expenses, and insurance. Short-term incentives are usually formula-driven, whereas bonuses are awarded after-the-fact and are usually discretionary. Wages are given to workers whereas salaries are given to employees. They are both affected by market forces, as well as other factors, such as tradition, social structure, or government regulation (e.g., minimum wage laws). Executive pay is usually a mixture of these different forms of compensation, with a salary, bonuses, benefits and expenses, and shares or call options on company stock. Salaries are often seen as part of a "total rewards" system that includes benefits and perquisites. Employee stock options (ESOs) are sometimes offered to management, with the objective of giving them an incentive to behave in a way that boosts the company's stock price. Forms of Financial Compensation Free to share, print, make copies and changes. Get yours at www.boundless.com www.boundless.com/business/textbooks/alternative-to-understanding-business-10th-william-nickels-james-mchugh-susan-mchugh-0077474511- 9780077474515/human-resource-management-11/compensation-73/forms-of-financial-compensation-380- 7769?campaign_content=book_6020_section_73&campaign_term=Business&utm_campaign=powerpoint&utm_medium=direct&utm_source=bou ndless Salary View on Boundless.com Human Resource Management > Compensation

6. Under a time rate system, the worker is paid by hour, day, week or month. Under a high wage plan, the worker is paid highly in exchange for a high level of performance. Under a piecework system, the worker is paid according to output. A straight piecework system is completely independent of time taken, whereas a differential piecework system rewards more efficient workers. A combination of time and piecework systems also exist, such as the Gantt Task and Bonus System, and Emerson's Efficiency System (see examples). Under a lockstep compensation system, salaries are based purely on seniority within an organization. This system is easy to administer, but can reduce incentives for employees to perform. Pay Systems Free to share, print, make copies and changes. Get yours at www.boundless.com www.boundless.com/business/textbooks/alternative-to-understanding-business-10th-william-nickels-james-mchugh-susan-mchugh-0077474511- 9780077474515/human-resource-management-11/compensation-73/pay-systems-381- 7870?campaign_content=book_6020_section_73&campaign_term=Business&utm_campaign=powerpoint&utm_medium=direct&utm_source=bou ndless Wage Payment Systems View on Boundless.com Human Resource Management > Compensation

7. The purpose of employee benefits is to increase motivation of staff through increased economic security, thus improving employee retention. The ERISA act of 1974 established minimum standards for pension plans in private industry, and regulates employee benefit plans. Benefits are usually tax- deductible to the employer and non-taxable to the employee. Employee benefits provided through insurance contracts are regulated at state level, but benefits provided through ERISA are not. Salary packaging often occurs if there are tax benefits for the employer or employee from such an arrangement. This is becoming increasingly common in the public sector as well as the private. Standard Benefits Free to share, print, make copies and changes. Get yours at www.boundless.com www.boundless.com/business/textbooks/alternative-to-understanding-business-10th-william-nickels-james-mchugh-susan-mchugh-0077474511- 9780077474515/human-resource-management-11/compensation-73/standard-benefits-382- 10236?campaign_content=book_6020_section_73&campaign_term=Business&utm_campaign=powerpoint&utm_medium=direct&utm_source=bo undless Salary View on Boundless.com Human Resource Management > Compensation

8. The term was coined during World War II to describe the various indirect benefits which industry had devised to attract and retain labor when direct wage increases were prohibited. Companies that offer such work-life perks aim to raise employee satisfaction and thus corporate loyalty. Certain fringe benefits may be excluded from an employee's gross income and are thus not subject to federal income taxes. An example of this is flexible spending accounts, 401(k), and 403(b). Accident, health, and life insurance plans also act in this way. Fringe Benefits Free to share, print, make copies and changes. Get yours at www.boundless.com www.boundless.com/business/textbooks/alternative-to-understanding-business-10th-william-nickels-james-mchugh-susan-mchugh-0077474511- 9780077474515/human-resource-management-11/compensation-73/fringe-benefits-383- 3260?campaign_content=book_6020_section_73&campaign_term=Business&utm_campaign=powerpoint&utm_medium=direct&utm_source=bou ndless Company Car View on Boundless.com Human Resource Management > Compensation

9. Free to share, print, make copies and changes. Get yours at www.boundless.com Appendix

10. Key terms 401(k) 401(k) are "defined contribution plans" with annual contributions limited (currently to $17,000). Contributions are "tax- deferred" in that they are deducted from paychecks before taxes and then taxed when a withdrawal is made from the 401(k) account. Depending on the employer's program, a portion of the employee's contribution may be matched by the employer. 403 (b) A U.S. tax-advantaged retirement savings plan available for public education organizations, some non-profit employers, cooperative hospital service organizations, and self-employed ministers in the United States. It has tax treatment similar to a 401(k) plan. contingent worker a provisional group of employees who work for an organization on a non-permanent basis Employee benefits Non-salary or wage benefits that are paid for in whole or in part by the employer. ERISA Employee Retirement Income Security Act of 1974. A federal law that establishes minimum standards for pension plans in private industry and regulates employee benefits. perquisite Any monetary or other incidental benefit beyond salary. remuneration a payment for work done; wages, salary, emolument salary A fixed amount of money paid to a worker, usually measured on a monthly or annual basis, not hourly, as wages. Implies a degree of professionalism and/or autonomy. salary packaging Refers to the inclusion of employee benefits (also called fringe benefits) in an employee remuneration package in exchange for giving up part of monetary salary, often for tax purposes. tax shelter A legal structure that reduces tax liability for a person or that person's assets. wage An amount of money paid to a worker for a specified quantity of work, usually expressed on an hourly basis. Free to share, print, make copies and changes. Get yours at www.boundless.com Human Resource Management

11. Salary Salary packaging (also known as salary sacrifice or salary exchange) is a term used to refer to the inclusion of employee benefits (also called fringe benefits) in an employee remuneration package in exchange for giving up part of monetary salary. Free to share, print, make copies and changes. Get yours at www.boundless.com China Daily. "Salary hike insubstantial to most employees." CC BY http://www.chinadaily.com.cn/china/2007-07/04/content_910139.htm View on Boundless.comCC BYhttp://www.chinadaily.com.cn/china/2007-07/04/content_910139.htmView on Boundless.com Human Resource Management

12. Salary A salary is a form of remuneration paid periodically by an employer to an employee, the amount and frequency of which may be specified in an employment contract. Free to share, print, make copies and changes. Get yours at www.boundless.com How Stuff Works. "HowStuffWorks "How Employee Compensation Works"." CC BY http://money.howstuffworks.com/benefits.htm View on Boundless.comCC BYhttp://money.howstuffworks.com/benefits.htmView on Boundless.com Human Resource Management

13. Company Car One of the perks this lifeguard enjoys is the use of a company car. Free to share, print, make copies and changes. Get yours at www.boundless.com Geograph Ireland. "RNLI Patrol vehicle, Portstewart (C) Rossographer :: Geograph Ireland." CC BY-SA http://www.geograph.ie/photo/2520921 View on Boundless.comCC BY-SAhttp://www.geograph.ie/photo/2520921View on Boundless.com Human Resource Management

14. Wage Payment Systems Wage payment systems are the different methods adopted by organizations by which they renumerate labor. Free to share, print, make copies and changes. Get yours at www.boundless.com Blogspot. "Design Build Pros: Ground Rules: Improve the "Remodeling Estimate" Experience - part 4." CC BY http://neildesignbuild.blogspot.com/2011/11/improve- remodeling-estimate-experience_10.html View on Boundless.comCC BYhttp://neildesignbuild.blogspot.com/2011/11/improve- remodeling-estimate-experience_10.htmlView on Boundless.com Human Resource Management

15. Free to share, print, make copies and changes. Get yours at www.boundless.com Human Resource Management An employee would exercise their stock options if: A) The call price is higher than the market price B) The market price is higher than the call price C) The call price is equal to the market price D) None of these answers

16. Free to share, print, make copies and changes. Get yours at www.boundless.comwww.boundless.com Boundless - LO. "Boundless." CC BY-SA 3.0 http://www.boundless.com/CC BY-SA 3.0http://www.boundless.com/ Human Resource Management An employee would exercise their stock options if: A) The call price is higher than the market price B) The market price is higher than the call price C) The call price is equal to the market price D) None of these answers

17. Free to share, print, make copies and changes. Get yours at www.boundless.com Human Resource Management A wage payment system in which more efficient workers receive higher rewards is called: A) Emerson's efficiency system B) Measured day work C) Differential piece work system D) High wage page

18. Free to share, print, make copies and changes. Get yours at www.boundless.comwww.boundless.com Boundless - LO. "Boundless." CC BY-SA 3.0 http://www.boundless.com/CC BY-SA 3.0http://www.boundless.com/ Human Resource Management A wage payment system in which more efficient workers receive higher rewards is called: A) Emerson's efficiency system B) Measured day work C) Differential piece work system D) High wage page

19. Free to share, print, make copies and changes. Get yours at www.boundless.com Human Resource Management The main advantage for employers in offering employee benefits is: A) Tax deductibles B) Improve worker retention C) Recruit the best workers D) Pay lower wages

20. Free to share, print, make copies and changes. Get yours at www.boundless.comwww.boundless.com Boundless - LO. "Boundless." CC BY-SA 3.0 http://www.boundless.com/CC BY-SA 3.0http://www.boundless.com/ Human Resource Management The main advantage for employers in offering employee benefits is: A) Tax deductibles B) Improve worker retention C) Recruit the best workers D) Pay lower wages

21. Free to share, print, make copies and changes. Get yours at www.boundless.com Human Resource Management Which of the following is NOT a typical perk offered by a company? A) Free education for children B) Free hotel stays C) Free company car D) Free stationery

22. Free to share, print, make copies and changes. Get yours at www.boundless.comwww.boundless.com Boundless - LO. "Boundless." CC BY-SA 3.0 http://www.boundless.com/CC BY-SA 3.0http://www.boundless.com/ Human Resource Management Which of the following is NOT a typical perk offered by a company? A) Free education for children B) Free hotel stays C) Free company car D) Free stationery

23. Attribution Wikipedia. "Fringe benefits." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Fringe_benefitsCC BY-SA 3.0http://en.wikipedia.org/wiki/Fringe_benefits Wikipedia. "403 (b)." CC BY-SA 3.0 http://en.wikipedia.org/wiki/403%20(b)CC BY-SA 3.0http://en.wikipedia.org/wiki/403%20(b) Wikipedia. "401(k)." CC BY-SA 3.0 http://en.wikipedia.org/wiki/401(k)CC BY-SA 3.0http://en.wikipedia.org/wiki/401(k) Wiktionary. "tax shelter." CC BY-SA 3.0 http://en.wiktionary.org/wiki/tax+shelterCC BY-SA 3.0http://en.wiktionary.org/wiki/tax+shelter Wikipedia. "Wage." CC BY-SA 3.0 http://en.wikipedia.org/wiki/WageCC BY-SA 3.0http://en.wikipedia.org/wiki/Wage Wikipedia. "Employee stock option." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Employee_stock_optionCC BY-SA 3.0http://en.wikipedia.org/wiki/Employee_stock_option Wikipedia. "Deferred compensation." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Deferred_compensationCC BY-SA 3.0http://en.wikipedia.org/wiki/Deferred_compensation Wikipedia. "Executive compensation." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Executive_compensationCC BY-SA 3.0http://en.wikipedia.org/wiki/Executive_compensation Wikipedia. "Compensation of employees." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Compensation_of_employeesCC BY-SA 3.0http://en.wikipedia.org/wiki/Compensation_of_employees Wikipedia. "Salary." CC BY-SA 3.0 http://en.wikipedia.org/wiki/SalaryCC BY-SA 3.0http://en.wikipedia.org/wiki/Salary Wikipedia. "Financial compensation." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Financial_compensationCC BY-SA 3.0http://en.wikipedia.org/wiki/Financial_compensation Wikipedia. "Payment." CC BY-SA 3.0 http://en.wikipedia.org/wiki/PaymentCC BY-SA 3.0http://en.wikipedia.org/wiki/Payment Wiktionary. "perquisite." CC BY-SA 3.0 http://en.wiktionary.org/wiki/perquisiteCC BY-SA 3.0http://en.wiktionary.org/wiki/perquisite Wiktionary. "salary." CC BY-SA 3.0 http://en.wiktionary.org/wiki/salaryCC BY-SA 3.0http://en.wiktionary.org/wiki/salary Wikipedia. "Pay grade." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Pay_gradeCC BY-SA 3.0http://en.wikipedia.org/wiki/Pay_grade Wikipedia. "Payment system." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Payment_systemCC BY-SA 3.0http://en.wikipedia.org/wiki/Payment_system Wikipedia. "Wage payment systems." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Wage_payment_systemsCC BY-SA 3.0http://en.wikipedia.org/wiki/Wage_payment_systems Free to share, print, make copies and changes. Get yours at www.boundless.com Human Resource Management

24. Wikipedia. "Lockstep compensation." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Lockstep_compensationCC BY-SA 3.0http://en.wikipedia.org/wiki/Lockstep_compensation Wikipedia. "Contingent worker." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Contingent_workerCC BY-SA 3.0http://en.wikipedia.org/wiki/Contingent_worker Wiktionary. "remuneration." CC BY-SA 3.0 http://en.wiktionary.org/wiki/remunerationCC BY-SA 3.0http://en.wiktionary.org/wiki/remuneration Wiktionary. "wage." CC BY-SA 3.0 http://en.wiktionary.org/wiki/wageCC BY-SA 3.0http://en.wiktionary.org/wiki/wage Pearson Higher Ed. License: Other http://wps.prenhall.com/wps/media/objects/107/109902/ch17_a3_d2.pdfLicense: Otherhttp://wps.prenhall.com/wps/media/objects/107/109902/ch17_a3_d2.pdf Wikipedia. "Employment benefits." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Employment_benefitsCC BY-SA 3.0http://en.wikipedia.org/wiki/Employment_benefits Wikipedia. "ERISA." CC BY-SA 3.0 http://en.wikipedia.org/wiki/ERISACC BY-SA 3.0http://en.wikipedia.org/wiki/ERISA Wikipedia. "Salary packaging." CC BY-SA 3.0 http://en.wikipedia.org/wiki/Salary_packagingCC BY-SA 3.0http://en.wikipedia.org/wiki/Salary_packaging Canadian Center of Science and Education. "The Influence of Employee Benefits Towards Organizational Commitment | Ju | Asian Social Science." CC BY http://ccsenet.org/journal/index.php/ass/article/view/1219/1182CC BYhttp://ccsenet.org/journal/index.php/ass/article/view/1219/1182 Boundless Learning. "Boundless." CC BY-SA 3.0 http://www.boundless.com//business/definition/erisaCC BY-SA 3.0http://www.boundless.com//business/definition/erisa Boundless Learning. "Boundless." CC BY-SA 3.0 http://www.boundless.com//business/definition/salary-packagingCC BY-SA 3.0http://www.boundless.com//business/definition/salary-packaging Boundless Learning. "Boundless." CC BY-SA 3.0 http://www.boundless.com//business/definition/employee-benefitsCC BY-SA 3.0http://www.boundless.com//business/definition/employee-benefits Free to share, print, make copies and changes. Get yours at www.boundless.com Human Resource Management