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| HOW | Wages and salaries differ in ______ someone is paid...hourly or set amount |
| 403(b) plan | A retirement plan for employees in public education and some nonprofit organization |
| CAN | Human resources is one business function that _______ be easily outsource |
| benefit | Paid holidays are an example of an employee |
| piece-rate plan | Compensation plan that pays a fixed rate for each unit produce |
| performance review | The process of assessing how well employees are doing their jobs |
| time plan | Compensation plan that pays a certain amount of a specified period of time worked |
| employee benefits | All forms of compensation and services provided to employees in addition to salaries and wages |
| cafeteria plan | Benefits plan that allows employees choose the benefits that meet their personal needs |
| wage | Pay based on an hourly rate |
| commission plan | Compensation plan that pays a percentage of the volume of sales for which an employee is responsible |
| flex-time | Arrangement in which employees choose their own work hours within specified limits. |
| salary | Fixed amount of pay made on a regular schedule such as weekly or monthly. |
| formal training | Planned instruction with a specific curriculum and instructor |
| SEP plan | A retirement plan designed for self-employed people |
| profits | Profit sharing is a compensation plan designed to encourage employees to do things that increase company __________ |
| performance | A ___________ payment plan makes it difficult for NEW employees to earn a reasonable amoun |
| a company | 401(k) plans are designed for people who work for ____________ |
| pay | legitimate factors on which to base the amount of employee _______ is skills, experience, and prevailing wages |
| year | Paying an executive $140,000 a _________ is an example of a time plan |
| 1-2X's | Managers should conduct formal performance reviews of all employees at least ________________a year |
| $2,000 | On average, the amount spent on training for each employee in one year is close to |
| effective | the chance to discuss working conditions, strengths and weaknesses, and a specific work plan are ALL characteristics of an ______________ performance review conference |
| increases | Companies use the information they obtain from performance reviews to plan training, transfer or discharge empoyees and determine wage and salary _____________ |
| MANY | Piece-rate plans can be applied to ___________ different types of workers not just factory |
| compensation | The money and other benefits people receive for work |
| economic policy | Minimum wage laws are considered a social as well as |
| salary | A combination plan generally combines the commission and |
| 20-40% | On average, companies spend an additional _______ percent of employee salaries and wages on benefits |
| bonuses | A variation of the combination plan that links employee rewards to the achievement of important department or company goals |
