Wage & Salary Administration / Performance Appraisal

The function of the _______ in a company is usually the wage and salary administration.

It is the process of evaluating an individual to determine whether he/she should be promoted to a higher position.

Give the 3 purposes of performance appraisal.

A wage theory which proposes that labor is a commodity like anything that could be bought at a price by the user.

• Just Wage Theory

• Wage Fund Theory

• Bargaining Theory of John Davidson

Proposed by Karl Marx. It emphasizes that labor is the source of all product and that without it, there would be no goods for human consumption.

• Labor Theory of Value

• Standard of Living Theory

• Marginal Productivity Theory

It is the _____ of the ______ that is paid to an employee doing similar functions that has a minimum and maximum pay and series of steps adjustment.

Professionals are also called ________________.

The term for workers who have received specialized training to do their jobs.

Give the 2 methods of wage payment.

The extent to which the performance measure gives specific guidelines to employees on what is expected of them.

• Reliability

• Specificity

• Validity