| Term | Definition |
|---|
| integrated package of all rewards gained by employees arising from their employment. | total rewards |
| Compensation, benefits, work/life programs, performance and recognition, development and career opportunities | Five components of total rewards |
| Employment, labour standard acts,human rights acts, canada/quebec pension act, | legal considerations in compensation |
| union attitudes toward compensation decisions, | union influences on compensation decisions |
| compensable factors, preparation for job evaluation, ranking method of evaluation, classification evaluation method,point method job evaluation,factor comparison job evaluation method | establishing pay rates1.determine the worth of each job through job evaluation |
| group similar jobs into pay grades | establish pay rate 2. |
| conduct wage/salary survey, formal and informal surveys by employer, commercial professional and government salary surveys | establish pay rate 3 |
| price each pay grade by using wage curves | establish pay rate 4 |
| developing rate ranges, broadbanding,correcting out of line rate, | establish pay rate 5 |
| a rate of pay that isabove pay range maximum | red circle pay rate |
| competencies is individual knowledge, skills and behaviours that are critical to successful individual or corporate performance | competency based pay |
| compensating managers and professional employees | pay for managerial and professional jobs |
| providing equal pay to male dominated job classes and female dominated job clases of equal value to the employer | pay equity |
| a method of ranking jobs according to a variety of skill and difficulty factors, adding these rankings to arrive at an overall numerical rating for each given job, and then incorporating wage rates | factor comparison method |
| job evaluation method in which a number of compensable factors are identified, the degree to which each of these factors is present in the job is determioned, and an overall point value is calculated | point method |
| a method of categorizing jobs into groups | classification method |
| a fundamental, compensable element of a job, such as skill, effort, responsibility and working conditions | compensable factor |
| groups of jobs based on a set of rules for each class, such as amount of independent judgement, skill, physical effort, and so forth. classes usually contain similar jobs , such as all secretairs | classes |
| groups of jobs based on a set of rules for each grade, where jobs are similar in difficulty but otherwise different. grades often contain dissimilar jobs, such as secretaries, mechanics, and firefights | grades |
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