Comp Exam 3 Quizzes

The percentage increase that is planned for an organizational unit or company is called _____.

a planned pay-level rise

_____ is movement through the wage ranges where seniority is specified as the basis of the movement.

automatic progression

One of the main reasons the European Union is trying to provide common labor standards for all members is to _____.

avoid social dumping

Which method of budgeting relies heavily on employee pay histories?

bottom-up

When compared to the impact of unions during periods of strong economies, the impact of unions during periods of higher unemployment is _____.

larger

Traditionally, Japan's employment relationships were supported by _____.

lifetime security within the company

The degree of discretion managers have to make total compensation a strategic tool is _____.

managerial autonomy

Annual bonuses often play a major role in executive compensation and are primarily designed to _____.

motivate better short-term performance

All of the following are major factors used to manage total labor costs except _____.

number of Overtime hours

A(n) _____ awards cash or stock if specific goals are achieved.

performance share plan

Nonqualified stock options require _____.

purchase of stock at a stipulated price, not conforming with the Internal Revenue Code

When employees are paid more than the maximum of their pay grade, these rates are called ______ rates.

red circle

The compa-ratio reflects the _______.

relationship of the average actual salary in each range to the midpoint of the range

Research indicates that the presence of a union adds about _____ to employee benefits.

30 to 40 percent

The average company match for a 401(k) retirement plan is ____ cents on the dollar up to 6 percent of pay.

50

According to Hofstede's cultural dimensions, in Malaysia and Mexico where there is high power distance, _____ pay structures are appropriate.

Hierarchical

the most likely reason for most unions to insist on group-based performance measures with equal payouts to members?

It cuts down on strife and internal quarrels.

A French citizen working for IBM in Canada is _____.

TCN

This approach sets salaries according to the home-country system and simply offers employees a one-time payment of money to offset differences in standards of living.

The lump-sum/cafeteria approach

What is a measure of changes in prices of goods and services in the product and service markets over time?

consumer price index

A management strategy of giving separate organization units the responsibility to design and administer their own compensation systems is _____.

decentralized responsibility

_______, a software package, allows workers to make health-care choices, allocate savings to 401 (k)s or other savings vehicles, and access vacation schedules.

employee self-service

Companies operating in nations with "collectivistic" cultures should use _____.

group-based performance incentives

_____ is an example of a country with a highly decentralized approach to pay setting with little government involvement.

the US

Executives, supervisors, and sales staff often receive special compensation treatment because _____.

these jobs face conflicting demands

Sometimes referred to as "churn" or "slippage," the _____ recognizes the fact that when people leave an organization, they typically are replaced by employees who earn a lower wage.

turnover effect

In a(n) _____ pay plan, a contract is negotiated which specifies that employees hired after a given target date will receive lower wages than their higher-seniority peers working on the same or similar jobs.

two-tier