Test 1.5 Flashcards
What is an example of a non-monetary reward given to professional employees?
recognition awards/honors
Money is what drives people to work. Is this true?
Yes
Internal equity is a compensation concept referring to ____________.
the equality of rewards within an organization for people in comparable positions
Through collective bargaining, unions may significantly influence a company’s wage decisions and pay policies by establishing minimum pay scales and other compensation-related rules. Which act oversees these activities?
The National Labor Relations Act
Why is independent contractors’ pay higher than those with in-office jobs?
they are responsible for their work-related taxes
Company XYZ has a young workforce and is a start-up. It is considering offering assistance with student debt repayment to its employees. What is a potential benefit of a program assisting student loan repayment?
better financial health and happiness at work
How does a SWOT analysis help with strategic planning?
It helps assess internal and external factors that affect a company.
It helps to plan a company’s areas of improvement.
It helps the organization seize the best opportunities.
SWOT stands for __________.
strengths, weaknesses, opportunities, and threats
What steps are included in strategic planning?
Understanding the vision the company wishes to pursue
Assessing current position
Distributing responsibilities accordingly.
Evaluating and measuring outcomes and results
What is the best method for encouraging organizational communication?
remaining open to feedback and encouraging team members to participate
