COMPENSATION AND ADMINISTRATION

It is the payment for work rendered based on the number of hours worked multiplied by the employee's hourly rate

It is the term used to indicate the quantity of labor supply

It is a component of compensation which helps in determining entry pay and incremental increases during performance evaluation or promotion

One of the challenges of managers is to make the employees happy with their pay.

POEA stands for?

Aligning pay with competitors calculate the risk of being competitive

It is a concept that makes compensation as a from of motivation for employees to be more productive on the job.

This is a major dilemma among managers is to consider employee contribution to performance as a factor of pay.

LWOP stands for?

It is the basic pay given to the employee for the actual work rendered usually in the form of salary or wage.

It is believed to be the theory where the minimum wage originated.

JEP stands for?

JD stands for?

It is always necessary for the organization's salaries to conform to the industry players.

It is the highest paying jobs for fresh graduates.

It is an organization's capability to provide competitive salaries and benefits by giving utmost attention to job grades, competencies, employee performance, and positions.

Refers to nonmonetary aspects of compensation

These are indirect rewards which may either be government-mandated or voluntarily given by the employer.

Refers to the process of obtaining the current pays of employers for different jobs which are eventually used to establish pay rates for an organization.

This is the sector with the highest employment percentage.

It is the pay linked to actual accomplishment in performance such as bonuses or incentives based on a target sales quota or target productivity. Incentives can be provided for all employees regardless of rank.

NEO stands for?

It is referred to as the written summary of all the duties and responsibilities of a particular job position.

NWPC stands for?

It can be in the form of a salary or wage.

NLRB stands for?

Defined as the process of determining all the information specific to a particular job.

This wage theory was developed by Francis Walker which depicts that wages are claims made after deducting rent, interest, and profits from the total product.