MGT 462 Chapter Notes - Chapter 1: Fair Labor Standards Act, Flat Rate, Job Analysis
Document Summary
Incentive - inducement offered in advance to influence future performance. Wages - pay given to employees who are covered by overtime and reporting provisions of the fair labor. Salaries - pay given to employees who are exempt from regulations of the fair labor standards act and hence do not received overtime pay. Ceo pay and shareholder return are related to some degree on how carefully the timing and measurement of performance are addressed. Pay individuals receive in return for the work they perform and the value they create is usually the major source of their financial security. Entitlement - employee belief that returns and/or rewards are due regardless of individual or company performance. Incentive and sorting effects of pay on employee behaviors. Pay can affect the motivational intensity, direction, and persistence of current employees. Motivation - individual"s willingness to engage in some behavior.
