Definitions:

Printable version: Write the correct term from the word box on the line next to its meaning below. For

help, consult your text book and lecture notes. Bring to class.

Online Completion: Drag and drop the answer in the space, save and bring to class.

Companies adopt

when they develop products or services

that are unique from those of their competitors

Represent pay rate differences for jobs of unequal worth and the framework

for recognizing differences in employee

contribution

Recurring money employees receive for doing their jobs is called

Compensation $($other than base wages or salaries$)$ that fluctuates according

to employees' attainment of some standard based on a preestablished

formula, individual or group goals, or company

earnings

Benefits that attempt to promote worker safety and health, maintain the

influx of family income, and assist families in

crisis

llearly define the relative value of each job among all jobs

within a company

Provides employees with pay for time when they are not

working $($e$.$g$.,$ vacation$)$

$8.$

provide such enhancements as tuition reimbursement and day

care assistance to employees and their families

$9.$

could be Nonmonetary compensation

WORD BOX

Intrinsic compensation

Extrinsic compensation

Base pay

Paid time off

Services

Protection programmes

Differentiation strategies

Employee benefits

Legally required benefits

Internally consistent

compensation systems

Pay structures

Pay grades

Incentive pay

Merit pay