A comprehensive approach to compensating and rewarding employees is frequently referred to as
total compensation.
total rewards.
total benefits.
complete compensation.
total direct compensation.
________ compensation refers to the financial rewards employees receive in exchange for their work.
Base pay
Indirect
Direct
Total
Traditional
The __________ and services employees receive in exchange for their work is called _________________.
pay; direct compensation
benefits; indirect compensation
commission; pay
training; total rewards
benefits; direct compensation
Job structure consists of the _________ for different jobs within the organization.
relative pay
fixed pay
incentive plans
pay levels
base pay
Pay structures are developed based on which of the following?
legal requirements
market forces
organization's goals
All of the answers are correct.
market forces and organization's goals
The procedure through which an organization compares its own practices to those of successful competitors is known as
gainsharing.
commercial intelligence.
benchmarking.
profiling.
None of the choices are correct.
Many organizations group jobs into sets of jobs having similar worth or content called
pay grades.
hourly rates.
pay policy groups.
pay ranges.
broadbands.
What type of pay system sets pay according to the employee's level of skill or knowledge and what they are capable of doing?
broadbanding
pay for individual performance
competency-based pay system
variable pay
standard hour plan
Organizations that want employees to focus on efficiency may adopt a _________ program, which measures increases in productivity and effectiveness and distributes a portion of each gain to employees.
commission
piecework
gainsharing
merit pay
bonus
Profit sharing involves awarding pay
that then becomes part of employees' base pay, in a manner similar to merit pay.
in order to discourage employees from thinking like owners.
based on individual performance.
that is a percentage of the organization's profits.
Stock ownership plans
make employees part owners of the organization.
are intended to encourage employees to focus on the success of the organization as a whole.
may not have a strong effect on individuals' motivation.
usually take the form of stock options or employee stock ownership plans.
All of the choices are correct.
The Canada Pension Plan (CPP) and the Quebec Pension Plan (QPP) are
required by law.
mandatory.
contributory.
Required by law and mandatory.
Incentive pay is also referred to as
piecework rate.
market rate.
variable pay.
pay for performance.
variable pay and pay for performance
A gradual transition into full retirement by reducing hours or job responsibility is called
phased retirement.
defined retirement.
flexible retirement.
deferred retirement.
paced retirement.
Which of the following is a way to communicate total rewards information to employees?
question and answer meetings
online total rewards statements
intranet pages
brochures
