Compensation / Total Rewards

Question 1

needs for survival and security, social needs and recognition

Answer 1

extrinsic rewards

Question 2

higher level needs for self-esteem, achivement, growht and development

Answer 2

intrinsic rewards

Question 3

3 components of pay

Answer 3

base pay, performance pay, indirect pay

Question 4

steps of effective compensation

Answer 4

understand org and people, formulate reward and compensation strat, determine comp values, design performance pay and indirect pay plans, implement manage evaluate and adapte compensation system

Question 5

structural variables

Answer 5

job design, coordination and departmentation, decision making and leadership, communication and information, control system, reward system/compensation system

Question 6

contextual variables

Answer 6

org’s environment, business strat, technology, size, workforce

Question 7

three types of managerial strategies

Answer 7

classical, hr managerial, high-involvement

Question 8

three e’e behaviours that are desired reward outcomes

Answer 8

membership behaviour, task behaviour, organizational citizenship

Question 9

three e’e attitudes that are desired reward outcomes

Answer 9

job satisfaction, work motivation, organizational identification

Question 10

Job enrichment is caused by

Answer 10

job satisfaction, task significance, skill variety, job autonomy, job feedback

Question 11

three methods for determining base pay

Answer 11

market pricing, job evaluation, pay for knowledge

Question 12

three compensation levels

Answer 12

lagging, leading, matching

Question 13

how to determine which compensation level is most efficient for the org?

Answer 13

utility analysis

Question 14

5 major methods of JE

Answer 14

ranking, paired comparison, classification/grading, factor comparison, point

Question 15

when to update job evaluation

Answer 15

job changes significantly, signs je doesn’t work, labor market changes, legislation changes

Question 16

5 steps to je with point method

Answer 16

identify compensable factors, develop measuring scale for each factor, weight each factor, apply jes to every job in system, test resulting job hierarchy for reliability and market fit reliability

Question 17

4 main categories of compensable factors

Answer 17

skill, effort, responsibility, working conditions

Question 18

gainsharing plans include

Answer 18

scanlon, rucker, improshare

Question 19

3 types of analysis to evaluate benefits plan

Answer 19

cost analysis, competitive analysis, benefits surveys