This is what HR Strategy should be based on

This is a group of related jobs with broadly similar content

This theory focuses on an individual’s feelings of how fairly he or she is treated in comparison with others and addresses how inequity is received based on comparison of inputs and outcomes

This determines the internal worth of a job

This is the person that fills a position at an organization

This is what FLSA has set overtime pay at

These are the minimum and maximum pay rates associated with a pay grade

This theory predicts pay structures will be concave, the gaps in pay increase as you go up in level in the organization, and there is a large end “prize” that is motivational to those throughout the structure

This method of job evaluation defines what each level of jobs will include

This type of compensation includes recognition, status, employment security, training and challenging work

This part of compensation is received as a bonus when an employee reaches a goal set by the company

This is increasing the use value of human capital (i.e., how much value is created by human capital)

This theory is used when organizations “copy” other organizations, and their pay systems are driven by “mimicking” what other organizations are doing

This method of job evaluation doesn't need a true criteria or explanation, but simply puts jobs in an order of how much the organization believe they are worth

This is the pay variation that exists between pay grades

This act requires that most employees in the United States be paid at least the federal minimum wage for all hours worked and overtime pay at not less than time and one-half the regular rate of pay for all hours worked over 40 hours in a workweek

This is differences in pay for the people in the same jobs and levels

This theory is seen when organizations benefit from setting up work to hire externally at the bottom and promote from within

This method of job evaluation develops a process to look at each job and assigns points to each of the jobs based on the organization's values

This is a form of compensation where the company covers the cost but does not provide direct monetary payment to the employee

This is the CATEGORY of an exempt job set by the FLSA that pays $700/week and is responsible for directing, operating, and overseeing several people, including hiring and firing

This is reducing the costs associated with human capital so that you can capture the value that is created

This theory explains how organizations can gain competitive advantage through their pay structure

This is a systematic process that are used to asses the tasks and requirements of a job

This type of organization usually has a low number of pay grades and a fast work flow