Term
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Definition
| Graph line that shows the relationship between job value as determined by job evaluation points and job value as determined by pay survey rates. |
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Term
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Definition
| Use of pay survey data to identify the relative value of jobs based on what other employers pay for similar jobs. |
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Term
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Definition
| Employees who must be paid overtime under the Fair Labor Standards Act. |
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Term
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Definition
| Occurs when the pay differences among individuals with different levels of experience and performance become small. |
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Term
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Definition
| One-time payment that does not become part of the employee’s base pay. |
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Term
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Definition
| Compensation computed as a percentage of sales in units or dollars. |
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Term
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Definition
| Subgroup of the board of directors, composed of directors who are not officers of the firm. |
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Term
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Definition
| Amount advanced from and repaid to future commissions earned by the employee. |
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Term
| Employee stock ownership plan (ESOP) |
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Definition
| Plan whereby employees have significant stock ownership in their employers. |
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Term
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Definition
| System of sharing with employees greater-than-expected gains in profits and/or productivity. |
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Term
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Definition
| Special benefits—usually non-cash items—for executives. |
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Term
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Definition
| System to distribute a portion of the profits of the organization to employees. |
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Term
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Definition
| Plan that gives employees the right to purchase a fixed number of shares of company stock at a specified price for a limited period of time. |
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Term
| Straight piece-rate system |
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Definition
| Pay system in which wages are determined by multiplying the number of units produced by the piece rate for one unit. |
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Term
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Definition
| Compensation linked to individual, group/team, and/or organizational performance. |
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Term
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Definition
| Agreement in which a percentage of an employee’s pay is withheld and invested in a tax-deferred account. |
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Term
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Definition
| Situation in which only higher-risk employees select and use certain benefits. |
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Term
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Definition
| Indirect reward given to an employee or a group of employees for organizational membership. |
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Term
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Definition
| Retirement program in which benefits are based on an accumulation of annual company contributions, expressed as a percentage of pay, plus interest credited each year. |
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Term
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Definition
| Strategy requiring employees to pay a portion of the cost of insurance premiums, medical care, and prescription drugs. |
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Term
| Consumer-driven health (CDH) plan |
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Definition
| One that provides employer financial contributions to employees to cover their own health-related expenses. |
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Term
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Definition
| Pension plan in which the money for pension benefits is paid in by both employees and employers. |
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Term
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Definition
| Retirement program in which an employee is promised a pension amount based on age and service. |
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Term
| Defined-contribution plan |
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Definition
| Retirement program in which the employer makes an annual payment to an employee’s pension account. |
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Term
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Definition
| Program that allows employees to select the benefits they prefer from groups of benefits established by the employer. |
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Term
| Flexible spending accounts |
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Definition
| Benefits plans that allow employees to contribute pre-tax dollars to buy certain additional benefits. |
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Term
| Health maintenance organization (HMO) |
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Definition
| Plan that provides services for a fixed period on a pre-paid basis. |
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Term
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Definition
| Approaches that monitor and reduce medical costs through restrictions and market system alternatives. |
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Term
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Definition
| Pension plan in which all the funds for pension benefits are provided by the employer. |
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Term
| Paid-time-off (PTO) plans |
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Definition
| Plans that combine all sick leave, vacation time, and holidays into a total number of hours or days that employees can take off with pay. |
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Term
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Definition
| Retirement program established and funded by the employer and employees. |
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Term
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Definition
| A pension plan feature that allows employees to move their pension benefits from one employer to another. |
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Term
| Preferred provider organization (PPO) |
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Definition
| A health-care provider that contracts with an employer group to supply health-care services to employees at a competitive rate. |
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Term
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Definition
| One requiring in-patient, hospital, hospice, or residential medical care or continuing physician care. |
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Term
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Definition
| Security benefit voluntarily offered by employers to employees who lose their jobs. |
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Term
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Definition
| Plan in which the corporation provides matching funds equal to the amount invested by the employee for the purchase of stock in the company. |
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Term
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Definition
| Audit of the services and costs billed by health-care providers. |
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Term
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Definition
| Right of employees to receive certain benefits from their pension plans. |
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Term
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Definition
| Extra pay for not taking sick leave. |
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Term
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Definition
| Security benefits provided to persons injured on the job. |
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Term
| Cumulative trauma disorders (CTDs) |
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Definition
| Muscle and skeletal injuries that occur when workers repetitively use the same muscles to perform tasks. |
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Term
| Employee assistance program (EAP) |
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Definition
| Program that provides counseling and other help to employees having emotional, physical, or other personal problems. |
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Term
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Definition
| Study and design of the work environment to address physiological and physical demands on individuals. |
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Term
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Definition
| General state of physical, mental, and emotional well-being. |
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Term
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Definition
| Supportive approach of facilitating and encouraging healthy actions and lifestyles among employees. |
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Term
| Lock out / tag out regulations |
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Definition
| Requirements that locks and tags be used to make equipment inoperative for repair or adjustment. |
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Term
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Definition
| Condition in which the physical well-being of people is protected. |
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Term
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Definition
| Protection of employees and organizational facilities. |
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Term
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Definition
| Comprehensive review of organizational security. |
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Term
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Definition
| Use of illicit substances or misuse of controlled substances, alcohol, or other drugs. |
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