| A | B |
|---|
| includes not only salary or wages but other benefits received in exchange for labor | compensation |
| wages are hourly and salary is set for the year | primary difference between wages and salary |
| Piece-rate plans apply to | various types of jobs |
| plan that pays a certain amount for a specified period of time worked | time plan |
| all forms of compensation and services the company provides to employees in addition to salaries and wages | employee benefits |
| if you don't sell , you don't make money! | drawback of commission plan |
| money and other benefits people receive for work | compensation |
| paying an employee $90,000 a year is an example of this type of compensation plan | time plan |
| The plan for paying employees that has the advantages of various pay systems | combination plan |
| A plan in which employees start and finish their workdays at different times but work the same number of hours each day | flextime |
| skills, productivity, amount of responsibility | legitimate factors on which to base employee pay amount |
| companies determine wage and salary increases through this tool | performance reviews |
| Vacations, sick time, and health insurance are | benefits |
| job skills training would include teaching new employees about | sales and customer service |
| A benefit program in which employees can select the benefits that meet their personal needs | cafeteria plan |
| A compensation plan that pays the employee a fixed rate for each unit produced. | piece-rate plan |
| A system of policies and procedures for calculating the wages and salaries in an organization. | compensation plan |
| A compensation plan in which employees are paid a percentage of the volume of business for which they are responsible. | commission plan |
| A compensation plan that provides each employee a small wage or salary and adds incentive pay based on the person’s performance. | combination plan |
| A fixed amount of pay made on a regular schedule such as weekly or monthly | salary |
| An employment plan that allows two people to share one full-time job. | job sharing |
| Pay based on an hourly rate or the completion of a specified amount of work. | wage |
