MGT 420 Exam 3 questions n answers
graded A+ latest update
pay structure - correct answer ✔✔the way in which an organization applies pay rates to
different jobs, skills, or competencies
reward system - correct answer ✔✔The policies, procedures, and practices used by an
organization to determine the amount and types of returns individuals, teams, and the
organization receive in exchange for their membership and contributions
total compensation - correct answer ✔✔Package of compensation and benefits that employees
receive
relational returns - correct answer ✔✔Nonmonetary incentives and rewards, such as new
learning and developmental opportunities
benefits - correct answer ✔✔Employee rewards, which are a type of indirect pay, that include
health, life, and disability insurance; retirement programs; and work- life balance programs
equity theory - correct answer ✔✔Provides a way of understanding how an individual's sense of
fairness is influenced by others with whom they compare themselves
organizational justice theory - correct answer ✔✔A theory that focuses on perceptions of
fairness in the workplace
types of justice - correct answer ✔✔distributive justice - The perceived fairness or equity
regarding the allocation of an outcome or resource, which can include rewards, punishments, or
other organizational consequences
, procedural justice - The perceived fairness of the process used to determine how an outcome or
resource is determined and distributed
interactional justice - The perceived fairness of an interpersonal or informational interaction—
for example, being treated with respect and consideration or receiving adequate explanation
about a process
internal equity - correct answer ✔✔The fairness of pay rates across jobs within an organization
compa-ratio - correct answer ✔✔A ratio that reflects how much employees are actually paid for
a given job or pay grade as compared to the espoused pay structure and policies and thus can
be used to assess whether systematic compression or inversion are occurring
job structure - correct answer ✔✔The ranking of jobs within an organization based on their
respective worth
job evaluation and the methods - correct answer ✔✔job evaluation - A systematic process used
to determine the relative worth of jobs within an organization
ranking method - A job evaluation approach in which subject matter experts evaluate the job
descriptions and specifications for a selection of jobs and order them in terms of their relative
contribution to the organization's strategic objectives and mission
classification method - A job evaluation approach in which a written classification description is
developed for each classification level, and based on its job description, each job is matched by
subject matter experts to a classification level where the classification description is most
similar
graded A+ latest update
pay structure - correct answer ✔✔the way in which an organization applies pay rates to
different jobs, skills, or competencies
reward system - correct answer ✔✔The policies, procedures, and practices used by an
organization to determine the amount and types of returns individuals, teams, and the
organization receive in exchange for their membership and contributions
total compensation - correct answer ✔✔Package of compensation and benefits that employees
receive
relational returns - correct answer ✔✔Nonmonetary incentives and rewards, such as new
learning and developmental opportunities
benefits - correct answer ✔✔Employee rewards, which are a type of indirect pay, that include
health, life, and disability insurance; retirement programs; and work- life balance programs
equity theory - correct answer ✔✔Provides a way of understanding how an individual's sense of
fairness is influenced by others with whom they compare themselves
organizational justice theory - correct answer ✔✔A theory that focuses on perceptions of
fairness in the workplace
types of justice - correct answer ✔✔distributive justice - The perceived fairness or equity
regarding the allocation of an outcome or resource, which can include rewards, punishments, or
other organizational consequences
, procedural justice - The perceived fairness of the process used to determine how an outcome or
resource is determined and distributed
interactional justice - The perceived fairness of an interpersonal or informational interaction—
for example, being treated with respect and consideration or receiving adequate explanation
about a process
internal equity - correct answer ✔✔The fairness of pay rates across jobs within an organization
compa-ratio - correct answer ✔✔A ratio that reflects how much employees are actually paid for
a given job or pay grade as compared to the espoused pay structure and policies and thus can
be used to assess whether systematic compression or inversion are occurring
job structure - correct answer ✔✔The ranking of jobs within an organization based on their
respective worth
job evaluation and the methods - correct answer ✔✔job evaluation - A systematic process used
to determine the relative worth of jobs within an organization
ranking method - A job evaluation approach in which subject matter experts evaluate the job
descriptions and specifications for a selection of jobs and order them in terms of their relative
contribution to the organization's strategic objectives and mission
classification method - A job evaluation approach in which a written classification description is
developed for each classification level, and based on its job description, each job is matched by
subject matter experts to a classification level where the classification description is most
similar
