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Related Flashcards
Cards In This Set
| Front | Back |
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BARGAINING STRUCTURE
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2 Parts 1. Employees that affect the CB and 2. Those that are affected by the CBA
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ECONOMICS
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Issues related to money, Wages & Benefits, Compensation
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WAGES
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Mandatory subject of bargaining, hourly wage rate, and general wage increase
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TWO-TEIR WAGE
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One group of workers are paid less than another group of workers
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ABILITY TO PAY
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When employer has high profit
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INABILITY TO PAY
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When company has financial hardship
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PROFIT SHARING
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Employees paid depending on profits of company
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GAIN SHARING
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Employees get paid based on production
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SKILL PAY DIFFERENTIAL
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More skills more pay
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PRODUCTIVITY
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Measure of value of output to hours of labor (input)
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COST OF LIVING
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Measure of the changes monthly typical household expenses
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WAGE INCREASES
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Front - more in the first year and less in the last
Back - less in the first year more in the last
Even - same in all years
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LUMP SUM PAYMENTS
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Flat amount given to employees
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HEALTH INSURANCE
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Major problem in contract negociations in the nation, As cost rises more, employers/employees pay more
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COST-SHARING
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Employeer and Employee share cost
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