Compensation Management Mid-term Review Dr. Barbara Lyon, SPHR HRM 516

SWYK Instructions 1.Each contestant will choose a category. (Ex: I’ll take FLSA for $200) 2.Response must be in the form of a question. (Ex: What are the overtime exemption categories?) 3.Kick it up a notch with SWYK Kick items by choosing to double the value posted on the game board. 4.The three contestants with the largest amount in their $WYK CA$H Pot will play… SWYK SHOWDOWN!

SWYK Board Instructions 1.Select a category on the main game board (slide 4). 2.On the main game board, click on the dollar amount of the item chosen. The item will appear on a separate slide. 3.To reveal the correct response, click in the blue space under the question. 4.To return to the main game board, click on the yellow arrow/box.

Comp Mgmt Intro. FLSA Job Analysis & Design Job Evaluation Salary Surveys $1 00 $1 00 $1 00 $1 00 $1 00 $5 00 $5 00 $5 00 $5 00 $10 00 $10 00 $10 00 $10 00 $20 00 $50 00 $20 00 $20 00 $20 00 $20 00 $50 00 $50 00 $50 00 $50 00 $5 00 $10 00

A: From most employees’ perspectives, the most important part of the compensation package. Q: What is based pay/wages/salaries? ($1.00)

A: These affect both current and future standards of living. Q: What are employee benefits and services? ($5.00)

A: All rewards that can be classified as monetary payments and/or in- kind payments. Q: What is a compensation system? ($10.00)

A: This establishes a general guidelines for decisions and actions to be taken by all organizational members. Q: What is the organization’s philosophy? ($20.00)

A: A statement of what the organization wants to accomplish in the long-term. Q: What is the organization’s mission? ($50.00)

A: The exemption classification assigned to outside sales workers. Q: What is exempt? ($1.00)

A: The type of employee who is hired for a specific job, is expected to meet minimum performance requirements, and who normally works between 35 and 40 hours per week. Q: What is a regular employee? ($5.00)

A: The FLSA definition of overtime. Q: What is time suffered or permitted to work over 40 hours in a workweek? ($10.00)

A: Employees who regularly perform non-routine assignments requiring originality, discretion, independent judgment, innovative abilities, and analytical skills. Q: Who are professionals? ($20.00)

Q: What are over time, minimum wage, and child labor? ($50.00) A: The three major provisions of the FLSA.

A: A Department of Labor reference book that lists many job titles and critical job duties/tasks; also provides a 9-digit code for each job. Q: What is the Dictionary of Occupational Titles (DOT)? ($1.00)

A: An ADA-related term that describes work activities that the incumbent must be able to perform, either unaided or with reasonable accommodation. Q: What is essential job functions? ($5.00)

A: Success in writing an accurate job description depends primarily on the availability of this. Q: What is sufficient data? ($10.00)

Q: What is the Position Analysis Questionnaire (PAQ)? ($20.00) A: This worker oriented job analysis inventory has 194 job elements and helps to group jobs by common characteristics.

A: The three most common methods used to collect job information. Q: What are interview, observation, and questionnaire? ($50.00)

Q: What is responsibility? ($1.00) A: The extent to which an employer depends on the employee to perform the job as expected, with emphasis on the importance of job obligation.

A: Job evaluation issues are generally concerned about this. Q: What is internal equity? ($5.00)

Q: What is the Factor Evaluation System (FES)? ($10.00) A: The job evaluation method used by the U.S. Office of Personnel Management.

A: The four universal compensable factors. Q: What are skill, effort, responsibility, and working conditions? ($20.00)

Q: What are know-how, problem solving, and accountability? ($50.00) A: The three universal compensable factors used to evaluate all jobs under the Hay plan.

Q: What are benchmark jobs? ($1.00) A: These jobs are used to make pay comparisons within or outside of the organization.

A: This, the most commonly used survey method, requires respondents to match benchmark jobs with similar jobs in their organizations. Q: What is job matching? ($5.00)

Q: What is modified weighted average? ($10.00) A: When measuring survey statistics, this reduces the influence of an unusual population.

A: Bureau of Labor Statistics (BLS); Watson-Wyatt Data Services/ ECS; The Hay Group; Economic Research Institute (ERI); William M. Mercer; Organization Resources Council, Inc. Q: What are the major sources of third party pay data / wage surveys? ($20.00)

Q: What are the major reasons for conducting a wage survey? ($50.00) A: Hiring and retaining competent employees; promoting worker productivity; developing an effective pay structure; recognizing pay trends; defending pay practices during litigation.