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Compensation and Benefits > Topic 10 - Intangible Rewards > Flashcards

Topic 10 - Intangible Rewards Flashcards

1
Q

What are Intangible Rewards?

A

Psychological, social, and contextual factors in organizations outside traditional pay and benefits that are rewarding to employees.

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2
Q

How do intangible rewards benefit employees and organizations?

A

They influence employee, team, and organizational actions by addressing non-monetary motivational factors.

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3
Q

Which employee needs are more directly impacted by intangible rewards, according to Maslow?

A

Social (relationships, belonging), Esteem (autonomy, achievement), and Self-actualization (growth, meaning).

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4
Q

What is the role of Maslow’s Hierarchy of Needs in understanding intangible rewards?

A

It serves as a guide to identify what employees find rewarding, despite limited research support for its hierarchical structure.

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5
Q

How do intangible rewards enhance the Total Rewards strategy?

A

By addressing intrinsic motivational factors that go beyond tangible rewards like pay and benefits.

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6
Q

____________________________ are defined as all psychological, social, and contextual factors in organizations outside the traditional pay and employee benefits categories that are rewarding to employees.

Extrinsic rewards
Intangible rewards
Monetary rewards
Valued rewards

A

Intangible rewards

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7
Q

What is the Pay as Meaning Principle?

A

The principle that the rewards employees receive from organizations have both economic and informational value, shaping how employees view themselves beyond monetary benefits.

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8
Q

How does the Pay as Meaning Principle affect employees’ perception of pay?

A

Employees compare their pay to others, and these comparisons influence their perception of fairness and self-worth.

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9
Q

What informational value does a $1,000 bonus provide to an employee, beyond its economic value?

A

It makes the employee feel noticed, important, and competent.

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10
Q

How can understanding the Pay as Meaning Principle improve a manager’s approach to rewards?

A

Managers can distribute both economic and intangible rewards, addressing employees’ need for recognition and validation.

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11
Q

Why is it important to consider both the economic and informational value of rewards in Total Rewards?

A

Focusing on both aspects helps managers create a more holistic rewards system that meets financial and psychological needs.

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12
Q

The Pay as Meaning principles states that:

The rewards employees receive from the government have informational value in addition to their economic value
The rewards that the employer will have as monetary value in addition to their economic value
The rewards employees receive from organizations have informational value in addition to their economic value
None of the above

A

The rewards employees receive from organizations have informational value in addition to their economic value

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13
Q

What is the Purpose Principle?

A

The Purpose Principle states that employees derive intangible rewards when the organization’s core purpose aligns with their personal values.

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14
Q

Why might a job as a Doctor seem more desirable than as a Debt Collector?

A

Because the purpose of the job aligns more closely with values such as helping others, which provide intangible rewards.

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15
Q

What is Person-Organization Fit?

A

It refers to the alignment between an employee’s values and the organization’s values, enhancing the Total Rewards experience.

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16
Q

How can organizations improve Person-Organization Fit?

A

By recruiting based on values and skills, signaling organizational values during recruitment, and socializing employees through training and rituals.

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17
Q

What role does a firm’s recruiting image play in Person-Organization Fit?

A

It signals the organization’s values, helping attract employees whose values align with the company.

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18
Q

How does Goldman Sachs use internships to enhance Person-Organization Fit?

A

Internships allow potential employees to understand the firm’s culture, high-performance expectations, and rewards, helping ensure alignment.

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19
Q

What is Strategy Shift in the context of the Purpose Principle?

A

It involves redefining organizational activities to align with values-driven purposes, creating greater returns for both employees and the organization.

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20
Q

Can an organization with a less noble core purpose still apply the Purpose Principle?

A

Yes, by shifting strategies to focus on areas of business more consistent with employee values.

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21
Q

What is Transformational Leadership?

A

A leadership style that motivates employees to transcend self-interest and connect their values to the organization’s purpose.

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22
Q

How do Transformational Leaders inspire employees?

A

Through their directions, stories, actions, and systems, creating a sense of purpose and connection to organizational goals.

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23
Q

What intangible rewards can Transformational Leadership provide employees?

A

A sense of purpose, meaning, and motivation tied to their work.

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24
Q

How does Howard Schultz at Starbucks exemplify Transformational Leadership?

A

By implementing programs that engage employees in social issues, provide development training, and offer free undergraduate education.

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25
How does Starbucks create a sense of meaning for its employees?
By connecting work to social impact and providing growth opportunities through initiatives led by Howard Schultz.
26
Why is leadership style considered part of a Total Rewards strategy?
Because it provides intangible rewards, such as purpose and motivation, which enhance employee satisfaction and retention.
27
What is an example of an organization using values to guide strategy?
A debt collection business could shift its strategy to focus on financial education, aligning with employees' values and purpose.
28
The purpose principle states that: The employer derives intangible rewards from an organization’s value-consistent purpose Market conditions help the employee feel valued in the workplace Employees derive intangible rewards from an organization’s value-consistent purpose Market conditions help the employer empower the employees
Employees derive intangible rewards from an organization’s value-consistent purpose
29
When the values of an employee align with the values of the organization, it is referred to as _________________________________. Transformational leadership Strategy shift Person-organization fit Purpose principle
Person-organization fit
30
How do social relationships function as Intangible Rewards in the workplace?
They can add to or reduce the value employees derive from their employment and performance, influencing their workplace experience.
31
Why are peer relationships important in the modern workplace?
The complexity and interdependence of work require collaboration, and quality peer relationships create a climate of acceptance and collective support.
32
How do supervisory relationships impact employee satisfaction?
Employees' satisfaction with work is heavily influenced by their immediate supervisors, making management-employee relationships a key focus of a Total Rewards system.
33
Why should organizations nurture quality management-employee relationships?
Positive supervisory relationships can enhance employee satisfaction and motivation, contributing to a more rewarding work experience.
34
How do customer relationships factor into employees' experiences at work?
Positive customer interactions provide intangible rewards, while conflict-oriented relationships can emotionally drain employees.
35
How can improving customer relationships enhance a Total Rewards system?
Programs that foster positive customer interactions reduce emotional strain and increase intangible rewards for employees.
36
What role do peer and team relationships play in workplace satisfaction?
They contribute to a sense of belonging and support, which enhances employees' overall experience and motivation.
37
Which is NOT discussed as a group of work relationships? Supervisory relationships Customer relationships Peer relationships Manager relationships
Manager relationships Workplace relationships include customer, supervisory, and peer relationships.
38
Which of the folowing deals with customer relationships? Employees being accountable to supervisors or managers who oversee their work, assign tasks, and provide feedback Working with others is a necessity of the modern workplace Interactions aimed at meeting customer needs can also have a large impact on the employees' experiences at work
Interactions aimed at meeting customer needs can also have a large impact on the employees' experiences at work
39
Employees having quality relationships with their co-workers and creating a climate of acceptance is an example of: Manager relationships Peer relationships Customer relationships Supervisory relationships
Peer relationships
40
True or False. When employees have quality relationships with their peers, it can create a climate of acceptance and collectiveness that provides intangible rewards to employees.
True
41
An employee's satisfaction with work is heavily influenced by their: Job description Job skills Immediate supervisor Coworkers
Immediate supervisor An employee's satisfaction with work is heavily influenced by their immediate supervisor.
42
Where interactions and relationships with customers are ________, the employee will receive ________ intangible rewards. Positive, negative Positive, positive Negative, negative Negative, positive
Positive, positive Where interactions and relationships with customers are positive, the employee will receive positive intangible rewards.
43
True or False. Due to the increasing complexity and interdependence of work, working with others is not a necessity of the modern workplace.
False
44
A ___________________should also consider how to build and nurture quality and rewarding management-employee relationships at work. Employee rewards system Total rewards system Employee valuation system None of the above
Total rewards system A total rewards system should also consider how to build and nurture quality and rewarding management-employee relationships at work.
45
What is Organizational Culture?
It is the shared beliefs, values, norms, and assumptions within an organization that shape its unique "personality."
46
How does Organizational Culture differ in strong and weak cultures?
In strong cultures, there is consistency in employee behavior, and deviation from norms is not allowed, whereas in weak cultures, more individuality is shown, and rules are weakly applied.
47
Why is Organizational Culture important for Total Rewards design?
It influences how employees experience the organization and can shape their satisfaction, while rewards systems can also impact the culture itself.
48
How do rewards systems interact with Organizational Culture?
Rewards shape behavior, so the design of rewards systems should consider their potential impact on the organization’s culture.
49
What artifacts can reflect an organization’s culture?
Stories, rituals, systems, politics, and use of physical space are artifacts that reveal the culture.
50
Which is not a reason why organizational culture is important to a total rewards program? It is a major driver of how employees experience the organization A total rewards system measures the market conditions set through organizational culture The total rewards system can have a large impact on the culture of the organization All of the above are important factors in a total rewards program
A total rewards system measures the market conditions set through organizational culture
51
True or False. Culture can be “seen” in the artifacts of the organization such as its stories, rituals, systems, politics, and use of physical space.
True
52
In _______ organizational cultures, more individuality is shown through the organization’s rules being less strictly applied. Weak Strong Large Small
Weak
53
Organizational culture is: The idea that the job families should be diverse enough to allow cross functional training The ability to bring in employees of all diversities The shared beliefs, values, norms, and assumptions of the organization The ideas that are forced upon employees without helping
The shared beliefs, values, norms, and assumptions of the organization
54
What is the Job Characteristics Theory?
It specifies qualities of work that improve employee motivation, satisfaction, and performance by making jobs inherently motivating and rewarding.
55
How does enriching work along Job Characteristics Theory dimensions affect pay?
Enriched jobs are more rewarding but also become more valuable, often meriting higher pay.
56
What is Skill Variety?
It is the extent to which a job requires a variety of skills and provides a reasonable challenge, preventing monotony and increasing engagement.
57
How does Skill Variety improve work?
It creates a more psychologically engaging and rewarding work experience by reducing boredom.
58
What is Task Significance?
It is the extent to which work is perceived to have important consequences for others, making it more motivating and satisfying.
59
How can Task Significance be highlighted?
By designing work with meaningful outcomes and leading in ways that emphasize the importance of the work.
60
What is Task Identity?
It is the extent to which employees complete a whole and identifiable piece of work, giving them greater ownership and confirmation of their impact.
61
How does Task Identity affect employees?
It increases intangible rewards by fostering a sense of ownership and satisfaction with the work process.
62
What is Autonomy in work design?
It is the discretion given to employees to choose what to do and how to do it, helping them feel responsible and less constrained.
63
How does Autonomy benefit organizations?
It makes work more rewarding and helps employees bring full information to solve problems effectively.
64
What is Feedback in the context of work design?
It is the direct knowledge of the results of one's work, motivating employees by allowing them to see the impact of their efforts.
65
Why is Feedback important for employee motivation?
Observing the effects of their work increases motivation and satisfaction, even more than verbal feedback from supervisors.
66
What is Growth Needs Strength?
It is the extent to which employees value and desire challenge and responsibility in their work.
67
How does Growth Needs Strength affect responses to work design?
Employees with high Growth Needs Strength respond more positively to enriching work characteristics, but all employees benefit to some degree.
68
Skill variety refers to: The extent to which work is designed to focus on a small amount of skills and does not pose a challenge to the employees The extent to which work is designed to require a variety of skills and poses a reasonable degree of challenge to the employee The extent to which work is designed to pose a moderate degree of challenge to the employee None of the above
The extent to which work is designed to require a variety of skills and poses a reasonable degree of challenge to the employee
69
The task significance represents: The extent to which the employee perceives that completion of their work has important consequences for others. The extent to which the employee perceives that completion of their work does not have important consequences for others The extent to which the employee perceives that completion of their work has moderate consequences for others None of the above
The extent to which the employee perceives that completion of their work has important consequences for others.
70
Autonomy represents: Giving employees no discretion in choosing what to do and how to do it Giving employees moderate discretion in choosing what to do and how to do it Giving employees discretion in choosing what to do and how to do it. None of the above
Giving employees discretion in choosing what to do and how to do it.
71
Growth Needs Strength is: The extent to which employees struggle to value and desire challenge and responsibility in work The extent to which employees value and desire challenge and responsibility in work. The extent to which employees have a moderate value and desire challenge and responsibility in work The extent to which employees do not value and desire challenge and responsibility in work
The extent to which employees value and desire challenge and responsibility in work.
72
Why is location important in a Total Rewards perspective?
Location acts as a proxy for various social, cultural, and environmental factors that employees find rewarding or punishing.
73
What are Positive Location Externalities?
These are benefits employees experience from living in a specific location that the organization does not have to pay for, such as beaches or cultural attractions.
74
How can Positive Location Externalities reduce organizational costs?
Organizations may provide lower amounts of other rewards because employees derive value from the location itself.
75
What are Negative Location Externalities?
These are nuisances or drawbacks of a location, such as pollution, traffic, or crime, that make the location less attractive.
76
How do Negative Location Externalities affect Total Rewards?
Organizations may need to enhance other elements of their Total Rewards system to compensate for the negative aspects of a location.
77
What is the role of labor market competitors in location-based rewards?
The presence of competitors in the same location can reduce the impact of Positive Location Externalities, as employees may leave while retaining location benefits.
78
Why might organizations in less attractive locations offer higher Total Rewards?
To compensate for Negative Location Externalities and attract employees despite the drawbacks of the location.
79
True or False. Location of the workplace is an important factor in the career choices of most employees.
True Location is one of the largest pieces of the Intangible Rewards pie. Indeed, it is not possible to understand the career choices people make without considering the location of each job offer.
80
In order to understand total rewards, managers need to understand both the ________ and _____________ value of those rewards. Ethnocentric, informational Economic, ethnocentric Economic, informational None of the above
Economic, informational
81
When the core purposes of a business align with the values of an employee, then that employee will perceive value in ________________his or her relationship with the organization. Maintaining Moving Ignoring None of the above
Maintaining When the core purposes of a business align with the values of an employee, then that employee will perceive value in maintaining his or her relationship with the organization.
82
True or False. Location is one of the largest pieces of the intangible rewards pie.
True Indeed it is not possible to understand the career choices people make without considering the location of each job offer.
83
Which of the following is not a Purpose Principle? Transformational Leadership Person-Organization Fit Transformational Management Strategy Shift
Transformational Management
84
Of the following, which most aligns with the Person-Organization Fit style? Leading through directions, stories, & actions Being involved in business with a value-driven purpose Recruiting for talent as well as match to the organization Being willing to learn and adapt new skills
Recruiting for talent as well as match to the organization
85
Of the following, which most aligns with the Strategy Shift? Recruiting for talent as well as match to the organization Being willing to learn and adapt new skills Leading through directions, stories, & actions Being involved in business with a value-driven purpose
Being involved in business with a value-driven purpose
86
Of the following, which most aligns with Transformational Leadership? Leading through directions, stories, & actions Being involved in business with a value-driven purpose Recruiting for talent as well as match to the organization Being willing to learn and adapt new skills
Leading through directions, stories, & actions
87
True or False. As organizations systematically define their activities in light of their values, there will be a gradual shift towards being involved in businesses with a more value-driven purpose.
True This Strategy Shift can create, for the organization and the employees, greater returns from the Total Rewards approach.
88
_________________ can have an important impact on employees and the meaning they perceive in work. Government Leaders Managers Senior management
Leaders Transformational Leadership creates a sense of purpose in the minds of employees, motivating them to transcend self-interest in order to accomplish the goals of the organization.
89
Transformational Leaders inspire employees in a way that they see: Values Purpose Both A & B None of the above
Both A & B Transformational Leaders inspire employees in such a way that employees see the connection between their values and the purpose of the organization.
90
Through transformational leadership, employees can receive greater ________________from their membership in the organization. Internal rewards Intangible rewards Extrinsic rewards Domestic rewards
Intangible rewards
91
True or False. The total rewards perspective is broad enough to capture leadership styles in the organization, one of the intangible drivers of employee satisfaction and motivation.
True
92
True or False. If an employee can leave your organization and retain the benefits of living in a particular location, this will expand the benefits your organization can accrue from positive externalities.
False
93
__________________ are an important part of the modern workplace. Benefits Social relationships Paid time off All of the above
Social relationships
94
Relationships can either add to or reduce the ___________ employees receive from their employment and performance. Rewards Desire Value All of the above
Value
95
Relationships at work include all of the following except: Self Peer Supervisory Customer
Self
96
True or False. The quality of these peer and team relationships can have a significant influence on employees experiences at work.
True
97
When employees have quality relationships with their peers, it can create a climate of ________________________ that provides Intangible Rewards to employees. Acceptance Collectiveness Both A & B None of the above
Both A & B When employees have quality relationships with their peers, it can create a climate of acceptance and collective feeling that provides intangible rewards to employees.
98
True or False. All organizations use some form of hierarchy to organize employees.
True This typically results in employees being accountable to supervisors or managers who oversee their work, assign tasks, and provide feedback.
99
An employees’ satisfaction with work is heavily influenced by ____________________. Management Colleagues Amount of work Immediate supervisor
Immediate supervisor Total rewards system should also consider how to build and nurture quality and rewarding management-employee relationships at work.

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