PBM Chapter 8 Review

Workforce

• all people 16 years and older who are employed or who are looking for a job
• artifical limit
• removes work from one company and sends it to another at a lower cost

Downsizing

• inclusion of people with personal differences
• planned reduction in number of employees needed in a firm in order to reduce costs & increase efficiency
• artifical limit

Outsourcing

• artifical limit
• organized group of employees who negotiate with employers
• removes work from one company and sends it to another at a lower cost

job analysis

• specific study of a job to identify in detail the job duties & skill requirements
• ends work relationship
• direct payment of $

compensation

• organized group of employees who negotiate with employers
• amount of money paid to an employee for work
• physical & psychological conditions in which people work

salary & wages

• removes work from one company and sends it to another at a lower cost
• planned reduction in number of employees needed in a firm in order to reduce costs & increase efficiency
• direct payment of $

benefits

• compensation other than direct payment
• planned reduction in number of employees needed in a firm in order to reduce costs & increase efficiency
• amount of money paid to an employee for work

incentive systems

• artifical limit
• connect compensation to the quality or quantity of performance
• physical & psychological conditions in which people work

promotion

• removes work from one company and sends it to another at a lower cost
• inclusion of people with personal differences
• advancement of an employee

transfer

• assign to another job in company at similar level
• ends work relationship
• organized group of employees who negotiate with employers