Final answer:
The term for a one-time payment that adjusts wages but does not affect the hourly base rate is a Lump sum pay adjustment. This is a common method for employers to compensate employees for short-term productivity gains or as a result of labor negotiations, without committing to permanent wage increases. Hence, the correct answer is option D.
Step-by-step explanation:
The labor relations term for a one-time payment made to adjust wages which does not affect an employee's hourly base wage rate is D. Lump sum pay adjustment. This type of payment is given as a single payment and it serves as a means to adjust employees' compensation without changing their underlying hourly wage. This can happen for various reasons such as a temporary increase in productivity or profitability, or as a compromise within labor negotiations where an immediate wage increase is not feasible.
Although adjustments of wages to productivity levels generally do not happen quickly, and measuring productivity can be complex, employers may opt to provide lump sum pay adjustments based on productivity benchmarks or as part of a collective bargaining agreement. These payments can also serve as a form of wage insurance, offering some financial benefit to the employee without committing to an ongoing wage increase.
In some instances, when responding to union demands for higher wages, a firm may choose to invest in machinery which can make union workers more productive. While this could reduce the number of employees needed, those who remain may receive a lump sum pay adjustment as compensation for increased productivity resulting from the new equipment.