Total Rewards Management - GR1
which of the retirement and investment plan that companies have terminated or amended plans to reduce their potential costs?
Defined benefit pension plan
In which retirement and investment plan the employee is at risk for finacial resources?
Defined contribution plan
Which retirement and investment plan ensures on promise of specific benefit at retirement?
Defined contribution plan
which of the retirement and investment plan characterized by employee and employer contribution made to individual participant accounts?
Defined contribution plan
To whome the organizationwide, department and group unit goals and plan are cascade to achieve them?
Department / Unit managers
What are achieved after integrating five elements of total rewads that effectively attract, motivate and retain the talent?
Desired business results
Which element comprises learning experiences designed to enhance employees' skills and competencies?
Development
Which element satisfies the need for personal challenge and growth?
Development and career opportunities
How the performance is measured?
Direct observation, documented examples, data-based
Variable pay is a compensation that is contigent on what?
Discretion, perforamance, or result achieved
Which are the key success factors of the business strategy?
Distribution, product design, required rate of return
Why the number of pay structures or band may be affected?
Diversity of jobs in the organization, Diversity in grading, balance of internal equity and external competitiveness, and organization culture
Which of the content-based evaluation method is primarily used in large organization and then only rarely?
Job component approach / methods
Which method of job evaluation develops a job worth hierarchy by using statistical analysis?
Job component method
Which job documentation is a summary of the most important features of a job?
Job descriptions
Which of the following is the one of the steps in building a job worth hierarchy?
Job documentation
Which is the final result of job evaluation process and it illustrates where each job fits, relative to other jobs?
Job worth hierarchy
What are the type of pay for time not worked, not at work?
Jury duty, sick, bereavement, holidays, personal leave, sabbatical, religious observations
Type of pay adjustment?
Merit-based, skilled-based, competency-based, step rate, lumpsum payment, general increases, COLA adjustment, combination, Automatic progression, Pay for performance
Which pay range reflects market rate for the position in that pay range?
Midpoint range
which of the compensation element criteria is company based: ROE, ROI, profit target, division or individual performance criteria?
Pay at risk / variable pay
What describes best the program that are designed to protect the employee's income flow during certain periods when the employee is not working?
Pay for time not worked programs
Which statement is most accurate regarding pay grades?
Pay grades distinguish between skill or responsibilites
What describes best the competency-based pay adjustment?
Pay increase by focusing on key success characteristics including underlying attributes, personality traits and behaviors
In which method of content-based evaluation involves the process of a whole-job or job-to-job comparison, resulting in an ordering of jobs from highest to lowest?
Ranking methods
Which of the content-based evaluation methods does not reveal anything about the relative degree of distance between jobs?
Ranking methods
Which describes best the following design components of medical plan: the charges that an insurance carrier determines are normal for a particular medical procedure within a specific geographical area.
Reasonable & Customary (R&C)
"a variety of flexible work options that enable greater control over when, where and how work gets done" is a definition of workplace flexibility, provided by whome?
WorldatWork
Which of the following statement best describes the job documentation?
Written information about job content, usually in the form of job description
What are the pitfalls to avoid when completing a performance appraisal?
Recency effect, central tendency, Devil effect, Halo effect, Leniency, Failure to seek input, untimely evaluation, failure to invest enough time, failure to complete an action plan, lack of verification
Which elemen give special attention to employees action, effort, behavior or performance?
Recognition
Which of the following descirbe best the element of total rewards that the programs focus on recruiting, valuing and retaining employees?
Recognition
What is perceived as valuable by employees for the success of total rewards strategy?
monetary and non-monetary rewads
In which retirement and investment plan the sponsor is at risk for finacial resources?
Defined benefit pension plan
In which countries, government typically provide healthcare to all citizens financed by taxes?
European countries
In which countries the defined benefits plans of retirements are popular?
Europs and the Americas
What are the most common levels of rating?
Exceeds, meets, does not meet the standard
Which of th following formal recognition approaches has the advantage of building excitement and fun?
Paid travel
Which method is the simplest form of job evaluation?
Ranking method
What are the differential Pay?
Shift, weekend, expatriate, geographic differential
What are the factors that recogniton program's cost depends on?
Size of the organization, types of rewards offered, training and administrative support
What are the performance management process phases?
1) Define goals, standards and measurement 2) Provide ongoing coaching and feedback 3) conduct performance dialogue 4) Determine performance recognition, rewards or consequences 5) Conduct annual development and career opportunities discussion.
What are the key principles of performance management process?
1) The process is ongoing, it's not a one time event 2) Mutual respect and trust should be the foundation of relationship between manager and employee 3) The communication must be between manager and employee, it's not one sided 4) Involvement of both should be in planning and mearsuring performance, 5) Expectations for performance, standards and measures should be clearly defined.
Which of the total rewards element a employer uses to help protect the standard of living of their works?
Benefits
What is midpoint differential in United States?
12% to 14%
What is midpoint differential in Switzerland?
15% to 18%
What is the midpoint differential rate is used in mexico?
15% to 30%
What is the range of payments for disability?
30% to 100% base pay
What is the percentage typical range spread in Europe?
30% to 50%
What is the percentage typical range spread in Latin America?
30% to 60%
What is the percentage typical range spread in USA and canada?
40% to 50%
what is the least percentage of job benchmark when using market pricing to build a base pay structure?
50%
What is the percentage typical range spread in Asia?
60%+
What is the percentage of job match data is considered good for benchmarking the jobs?
70%
Which of the following best describes the business strategy?
A board plan for competitively positioning products supporting the mission
What is one of the advantage of taking a total rewards approach?
A direct link exists between employee motivation and product/service quality.
What does the total rewards model provide?
A framework for designing, implementing and assessing the rewards packages offered thoroughout the organization.
What is developed and used in the administration of pay structure?
A job worth hierarchy
What does benefit supplement compensation provided to employee?
A level of security
Which of th following formal recognition approaches has the advantage of providing personal value to the employee?
Certificate of recognition
What elements include in a set to which organization has become accustomed?
A set of often unspoken expectation, behavioral norms and performance standards
What is a benchmark job?
A standard job used to make pay comparisons. The jobs selected should be easily defined and found in other oganization. At least 50% jobs should be benchmarked and it is considered good when it matches 70% of job content.
What describes best the equity-based pay adjustment?
Adjustments for internal compression issues (for example, between supervisor and subordinate)
What describes best the market-based pay adjustment?
Adjustments in pay when company finds that past year's engineer are making less than new college graduates
Learning a foreign language comes under what type of development opportunity?
Advancement opportunities
A work-life professional is more likely that an HR practitioner to do which of the followings?
Advocate work-life programs
When should manager utilize the salary planning guidelines to determine the appropriate reward and or consequence?
After the performance review has taken place
What are the best practices of conducting the performance appraisal meeting?
Allow enough time, maintain confidentiality, seek input, clarify performance issues, be specific about the performance rating, offer assistance, provide ongoing feedback about performance
What describes best the Merit-based pay adjustment?
An annual increase tied to individual performance and prevailing budget practices
Which describes best the following design components of medical plan: Typically an amount paid up front by the member for any services rendered.
Deductible
What is required to build a solid total rewards programme?
An organization's mission and strategy
Why should market dat be collected for market pricing?
Analyze pay competitiveness by collecting information on the going rate for benchmark jobs. Identify pay trends by watching movement of salaries in the labor market. Identify competitive pay practices by gathering information on practices, programs, policies and procedures.
Which performance discussion or review is more important?
Annual
What is the important role of benefits?
Attracting and retaining and fulfilling employee needs
What are the elements of total compensation?
Base & variable pay, equity, incentives, benefits
What are the components of base pay structure?
Base pay policy, Pay grade/bands, Midpoint differentials, pay range, Number of pay structures.
What are the components of Pay?
Base salary, Position description, job evaluation
What are the elements of compensation?
Base salary, variable pay, incentives, executive equity
Why the culture change is difficult to achieve?
Because it involves changing employee attitudes and behaviors by alterning their fundamental beliefs and values.
What are the two primary categories of engaged employee?
Behavioral, Emotional and attitudinal
Deferred profit-sharing
Benefit programs
Health, welfare, retirement and time off programs are related to which total reward component?
Benefits
Programs that any employer uses to supplement the cash compensation an employee receives, which element is this?
Benefits
The cost of rising the healthcare costs continue to increase the cost of which element?
Benefits
Which element satisfies protection needs?
Benefits
Who approves officer compensation?
Board of directors
Which is the pay range has spread 100% to 300% from minimum to maximum?
Boardbanded pay range
Which is the variable pay is given without prior objectives being stablished, they are usually given in two forms?
Bonuses
In which countries the defined contribution is popular?
British influenced countries
Which of the following should be balanced when determining learning opportunities for employees?
Business needs and preferences of employees
While designing consideration for variable pay, the performance measures are based on which plan?
Business plan: the purpose of the incentive, the results the company wants rewarded, and the behavior it wants to inforce (team focus, individual focus, etc.)
Which of the following strategy drives HR and Total rewards strategies?
Business strategy
Which strategy can assist the human resource professionals in becoming a strategic partner.
Business strategy
Which strategy is key to development of HR strategy
Business strategy
How a company can identifies what type of things employees would like to see in the recognition programs and what is is important to te organization's culture?
By conducting surveys
In which element involve plans to help employees pursue their career goals?
Career Opportunities
What are the categories support for worklife?
Caring for dependants, supporting health and wellness, creating workplace flexibility, financial support programs, creative use of paid and unpaid time off, community involvement programs, culture change initiative
Which of th following formal recognition approaches can be tied to specific achievement?
Cash bonuses
In which countries the concept of pay for performance is not fully accepted?
China, Central Europe, and eastern europe
Which job evaluation method compares jobs on a whole-job basis. Predefined class description are established, and then the job is placed in whichever classification best describes it.
Classification method
Which of the content-based evaluation methods has been commonly used for public sector position?
Classification methods
Which describes best the following design components of medical plan: the percentage paid by the member and the plan after the deductible has been met.
Co-insurance
Which describes best the following design components of medical plan: the amount that the member pays for covered services rendered at the time of services.
Co-payment
Organization culture is consist of what?
Collective attitude and behaviors that influence how individuals behave.
Formal ethics programs, shared (or catastrophics) such as leave banks and disaster relief funds are the creative new ways of taking care of each other - which category of worklife is this?
Community involvement
Which of th following formal recognition approaches has the advantage of aligning awards to the company?
Company merchandise
Cash provided by an employer to an employee for services rendered, which element is this?
Compensation
Which element is a first aspect of the employment contract?
Compensation
Which element satisfies a financial needs of income?
Compensation
Cash profit-sharing
Compensation programs
The base pay should be consistent with which strategy of the organization?
Compensation strategy
Which describes best the following design components of medical plan: helps ensure that the correct medical plan is paying expenses when a member is covered under more than one plan
Coordination of benefits (COB)
A precise description of what the organization does, its reason for existence or its purpose for being - which of the following best describes this statement?
Corporate mission
What the the factors influencing benefits?
Corporate philosophy/business objectives, competition practices, regulatory environment, taxation, employee demands, costs, demographic changes, desire fo choices, perceived value
A statement about what the organization wants to become. It drives the direction of an organization - which of the following best describes this statement?
Corporate vision
The total rewards design begins with which of the below process?
Corporate vision and mission
Which of the following is the design consideration that the communicating and administrating programs involves the use of resources?
Cost issues of implementation
Due to what reason the relationship between position, levels and grades can vary dramatically?
Country market influences
Vacation sharing, furloughs, emergency are the benefits of which worklife category?
Creative use of paid and unpaid time off
What are the areas of responsibilites/categories of sales incentive plan/commission?
Customer identification, customer service, customer persuasion
Which one of the following determine what organizationwide goals are set?
Customer requirement and organizational drivers
What elements lead to the development of specific organizational performance objective?
Customer requirement, organizational drivers and business strategy
the organizationwide goals are set that are determined by which elements?
Customer requirement, organizational drivers and business strategy
Which is the most objective method of measuring the performance?
Data-based
What are the examples of culture change initiatives?
Diversity/inclusion, women's advancement, mentoring, work redesign to reduce work overload and burnout, team effectiveness strategies, work invironement initiative, management flexibility training, older worker initiative
What are the features included in the job descriptions?
Duties and responsibilities, level of work to be performed and job specifications
Which of th following formal recognition approaches has the advantage of providing educational scholarshis to the employee's family?
Educational grants
Which of the following best descibe the programs that provide counseling or referral services, assistance with chemical dependency, psychological, financial, legal, family and carrear counselling?
Employee assistance programs (EAPs)
Which of th following formal recognition approaches has the advantage of providing public recognition?
Employee of the month and Reserved parking
What is the main discussion during the year-end review?
Employee's accomplishments and shortfalls for the year
Who are responsible for monitoring work performance?
Employees
Which of the variable pay plan are used as long-term incentives utilizing stock/share or stock/share equivalent for payments and foster employee ownership in the organization?
Equity compensation programs
Which are the free trade areas influencing the international benefits structures?
European Union, North American Free Trade Agreement, Mercosur, Association of South East Asian Nations
"A way to define how and when work gets done and how career are organized" is a definition of workplace flexibility, provided by whome?
Families and Work Institute
Which are the elements of the business strategy?
Finance, Market responsiveness, Service Excellence
What the factors of performance of performance-sharing plans of variable pay?
Financial performances, business process improvement, customer satisfaction, workforce development
What are the challenges of total rewards design?
Find proper mix of elements that satisfy the personal and financial needs of the current and potential workforce, given existing business conditions and cost constraints.
What are the proactive wellness strategies help employees to lower stress level as well as lowering company's health care cost?
Fitness centers affiliations and discounts, on-site fitness programs, on-site medical clilincs, health and wellness seminars, on-site yoga, pilates, deskercise
Which is the nondiscretionary compensation?
Fixed pay
Which compensation is nondiscretionary that does not vary according to performance or results achieved?
Fixed pay or base pay
What are the example of creating workplace fexibility?
Flexible work arrangement, work redesign, career flexibilty
Which of th following formal recognition approaches has the advantage of allowing employee to build work schedule around his/her needs?
Flexible work schedule
Which describes best the programs should recognize and reward individuall and group-specific achievement such as improvements in work processes
Formal recognition programs
Which programs of recognition are predetermined and are integral part of the total rewards programs?
Formal recognition programs
What are the type of variable pay plans?
Formula-driven and Performance target
What are the factors affect the base pay?
Frequency of review due to (inflation, government-imposed pay restraint, cost-of-living adjustment plus variable performance-related pay), Allowances, Government mandates
An organization typically uses which of the following types of pay adjustments to regain a competitive position with market rates?
General Pay
Which of th following formal recognition approaches has low monetary value and easy to administer?
Gift certificates
Which best describes the variable pay programs featuring equity-based rewards, including stock or share option plans/schemes and employee stock/share purchase plans, are also popular globally?
Global equity-based rewards
What are the type of Advnacement opportunities
Increased exposure outside the department, exposure in the community, professional association, publish articles, Learn a foreign language, internship, apprenticeships with experts, overseas assignments, internal job posting, job advancement/promotion, career ladders and pathways, succession planning, providing defined and respectable"on and off ramps" throughout the career life cycle
Who is the main provider of employee benefit programs?
Government
Which programs may be referred to as social security or as other social programs?
Government-mandated healthcare programs
Who are the instrumental in facilitating the process of rewards?
HR staff
What best describe the pitfalls of performance appriasal that basing the rating on only one prominent, positive characteristic of an employee.
Halo effect
What are the advantages an organization may experience form total rewards approach?
Higher profitability, lower labor costs, greater flexibility
The organization's overall plan for attraction, motivation, and retention of employees. Which of the following best describes this strategy?
Human Resources Strategy
Which strategy builds on the business strategy and serves as a guiding light in the desins of the all HR programs?
Human Resources Strategy
Which of the key players involved in the development of the total rewards strategy that articulates the HR strategy?
Human resources leadership
Who is involved in total rewards management?
Human resources leadership
which retirement and investimet plans describes the best: Cash balance plans and pension equity plans
Hybird plans
What does recognition involve?
Identifying and reinforcing positive work performance
Which is the variable pay plan is paid in an accounting period (month,quarter,year, multi year) or upon an event (reaching an objective, completing a project etc
Incentive plans
What is gainsharing programs?
Incentive programms designed to share the result of productivity gains with employees as a group
What the the elements of benefits?
Income protection and Pay for time not worked programs
Which of the following best describes the two primary elements of benefits programs?
Income protection and Pay for time not worked programs
What describe best the programs designed to protect the standard of living of the employee and his family?
Income protection programs
Which describes best the following denal plans: cover preventive and limited basic and major care
Indemnity plans
What describes best the performance target variable pay plan?
Individual award and or organizational goal is established and awards ae based on acheivement against goals
Who documents their own goals along with standards and how the goals will be measured?
Individual employees
The organization's ability to achieve its business objective depends on what?
Individual performance
What describes best the pay-for-knowledge approach pay adjustment?
Individuals are paid for the skills they possess rather than their job responsibilities
In which of the recognition progrmas the dollar limits are generally low and in some cases non-cash awards are used exclusively?
Informal Recognition Programs
Which of the recognition programs is easy to implement and training time is minimal for participants?
Informal Recognition Programs
What best describes the Job family matrices?
Information on multiple levels within the same job family
Organizational culture is subject to which influences?
Internal and external
Jobs grades / pay stratures are based on what?
Internal and or external equity
What determine the optimal mix of elements used in the total rewards package?
Internal company philosophy and design objectives
Which of the following best describes the need that work-life satisfies in the total rewards mix?
It addresses employees' intrinsic needs
Why the job worth hierarchy is used?
It determines and ensure internal and or external equity both among positions and groups of positions.
Why is the job worth hierarchy is important?
It determines which jobs should be grouped togethere and it forms the foundation of the base pay system.
What is job worth hierarchy?
It indicates the perceived value of jobs in relationship to each other within an organization.
What describes best the commission?
It is a cash payment, based on predetermined performance and reward schedule
How the eligibility of variable pay plan is defined?
It is defined as a percentage of a company's total employee population, based on a minimum salary, a salary grade, reporting relationship or critical position.
Which of the following statement best describes Base pay structure?
It is used as a framework for pay decisions
In which countries the retirement benefits replace 80% of income?
Italy
Which country provide the highest death benefits (five to six times pay)?
Italy
Which is the following best describs the statement "The systematic, formal study of the duties and responsibilities that comprise job content to obtain information about the nature and level of the work performed"
Job Analysis
Which step of building a job worth hierarchy is a basis for job evaluation and paying employees?
Job analysis
What are the types of job documentation?
Job analysis questionnaires, job family matrices, job descriptions
What are the total rewards design consideration?
Labor market, competition, Legal/regulatory, Technology, cost issues, budgeting, support staff needed, Globalization..
What are the type of coaching/mentoring opportunities?
Leadership and management training, access to expert/information at conferences outside of one's area of expertise, exposure to resident experts, formal or informal mentoring programs; within or outside of one's own organization, training or mentoring others
What are the types of development and career opportunities?
Learning opportunities, coaching / mentoring opportunities, advancement opportunities
What are the financial support - resources and referrals programs?
Legal referral, group insurance discount, financial seminars, employee discounts, credit counseling services, housing counselling
What are the essential elements of formal recognition programs?
Link recoginition with the achievement, widely communicated, well-defined programs criteria, encourage employee involvement, employ meaningful rewards, reward group or team accomplishments, clearly define monitors, link to performance evaluation
What describes best the pay for performance adjustment?
Links pay (base and/or variable), in whole or in part, to indivdual, group and / or organizational performance
Which programs may provide benefits for work-related disability?
Local workers' compensation
Which describes best the following benefits which include a stream of payment, such as monthly income, to provide assistance when an individual can not perform daily living activities?
Long-term care
What are the voluntary financial benefits programs?
Long-term care insurance, demestice partner benefits, financial palnning services, tuition assistance, adoption assistance
What are the method of performace appraisal?
Management by objective(MBO) or goal setting, Work Standard, Essay, Behaviorally Anchored Rating Scale (BARS), Checklist, Graphic Rating Scale, Multi-Rater Assessment, Critical-Incident, Forced-Choice Rating, Ranking
Which statement is most accurate regarding the performance management process?
Manager and employee should both be involved in planning and measuring performance.
which job evaluation method involves collecting competitors' data to identify the going rate for a job?
Market pricing
What are the methods used in the job evaluation?
Market-based and Content-based
What does performance management involve?
Measurement and evaluation
What are the voluntary benefit programs at the discretion of the employer?
Medical, dental, mental health, vision plans, survivor benefits, disability and retirement plans
Which of th following formal recognition approaches is easy to administer and employees view it as extra pay?
Paid time off
Which country uses flat amounts unrelated to pay for retirement benefits?
Netherlands
What are the methods used in the job content approach?
Nonquantitative methods and quantitative methods
Where is the pay for performance is more popular?
North America
Which of the following best describes the term "development"?
Opportunities to enhance employees' applied skills and competencies
How are the base pay determined by?
Organization's philosophy and pay structure
Which driver/factor determines how and why a company operates in the way it does?
Organizational culture
What are the strategies which ensure the alignment in development of total rewards?
Organizational culture, business strategy, and HR strategy
Which describes best the following design components of medical plan: the total monetary amount limit that the memer will be liable for in relation to the co-insurance.
Out-of-pocket maximum (OOP)
Which of the key players involved in the development of the total rewards strategy works closely with HR to facilitate the process?
Outside consultant
What is expatriate pay differential?
Paid for the difference in costs between an individual's home country and the assignment location
What describes best the formula-driven variable pay plan?
Percentage of profits or net income that exceed a percentage of capital. Formula generats a fund and individuals share on pro-rate basis
Which element involves the alignment and subsequent assessment of organizational, team and individual efforts toward the achievement of business goals and organizational success?
Performance
Which element satisfies the need to receive recognition for achievements
Performance and recognition
What descibes best that the process is circle; it is an unbroken cycle of communication between the manager and employee
Performance management process phases
What describe best a variable pay plan based rewards on the performance of a combination of quanitative and or qualitative measures?
Performance-sharing plans
What best descibe " As a supplement to the ongoing communication process and to minimize the chance of surprises for the manager or the employee"
Periodic reviews
In which countries the retirement benefits are relatively low?
Philippines and Hong Kong
Payment tht is typically based on an individual employee's rate of production is referred to as which type of base pay?
Piece rate
Which method of job evaluation uses defined factors and degrees to establish job value?
Point factor method
Which are the elements of the business strategy?
Pricing, Quality, Production innovation, Differentiation from competitors.
Which medical plans have evolved into more managed care environment?
Private medical plans
Which of the variable pay is based on the finacial performance?
Profit-sharing plans
In which programs, a predetermined index of profitability is linked to pay, employee spend mor time learning aabour financial measures and business factors that influence them?
Proft-sharing programs
What describes best the Lump-sum payments?
Provided in place of annual increase to the base salary as a means of controlling annual fixed-cost increases
What are the type of performance standards?
Quality, Quantity, Time, Process
Which of the following include the four types of performances standards?
Quality, Quantity, Time, Process
Statement" examin the importance of jobs in terms of compensable factors"
Quantitative methods or factor methods
In which job evaluation method process involves a whole-job-to-job comparison, resulting in an ordering of jobs from highest to lowest in relative worth to the organization?
Ranking method
Which of the following best describes the statement that employee who know what behaviors and activities are valued in the organization can strive to meet those expectations.
Recognition programs
what does employer do if the benefits are not perceived by the workforce to be value?
Reconsider offering benefits
Which of the following formal recognition approaches is designed to specifically help bring new employees into the organization?
Recruitment bonus
What are the value of recognition programs?
Reinforce valued behaviors, Foster continued improvement, Formalize the process, Provide posititve and immediate feedback, foster communication of valued hehavior
What are the type of pay for time not worked, at work?
Rest period, training and education, travel time, department meeting
What the challenges for global health care programs?
Rising cost, access to quality care, longer life spans, technological advances and the determination of responsibility for retiree health care
What are the type of base pay?
Salary, Nonexempt/hour rate, piece rare
What are the type of defined contribution plans?
Savings/thrift plans, profit-sharing plans, money purchase plans
Who gives approval to the total rewards strategy?
Senior management
Whose involvement is important for buy-in and ownership in total rewards strategy development?
Senior management / board of directors
Which of th following formal recognition approaches has trophy value and long-term rocognition value?
Service award
What are the essential elements of informal recognition programs?
Set financial limits, establish administrative responsibility, develop program definition, establish eligibility, identify qualifying actions, identify exclusions, establish prodedures.
Which is the following is an example of internal sharing of community involvement?
Shared leave program, Disaster relief fund, catastrophic leave
Which is the variable pay is given to team members for their extra contributions or to individual employee for some significant contribution?
Spot Bonuses
Which type of pay adjustment is based on longevity?
Step rate
Which of th following formal recognition approaches can be tied into other total rewards program?
Stock ownership
What are the type of equity incentives in variable pay plan?
Stock/share options, stock/share grants, restricted stock/share, performance unit plans
Which of the following best describes the recognition programs?
Support business strategy by reinforcing certain behaviors (e.g., extraordinary accomplishments) that contribute to organizational success
Which of the following is a design consideration that is often ignored, miscalculated or forgotten?
Support staff needed to administer the programs
Assistance with chemical dependency and family counselling are example programs of which category of work-life?
Supporting health and wellness
Which of th following formal recognition approaches has the advantage of allowing employee to work at home?
Telecommuting
How many methods of conducting performance appraisal are used widely?
Ten
Throughout how may years, the rewards profession has continued to mature?
Ten
What are the type of award items that often found in informal recognition programs?
Thank you card from the supervisor, gift certificate, small cash awards, movie tickets, video rental certificates, lunch with the supervisor, weekend trips, flowers of ballon bouquets, team dinner, free parking spot, full of partial day off with pay, articles in the employee newsletter, personal recognition from CEO, manager publicly recognize the employee in a department meeting, celebration lunches or dinner at the work site.
How can the total rewards mix support the business strategy and attract, motivate, and retain a competent workforce?
The answer lies in how each of the total rewards elements is combined to accomplish these objectives.
What are the drivers shape the total rewards mix?
The organizational culture, business and HR strategies
What goes into deciding what the total rewards strategy should look like?
The organizational culture, business and HR strategies
What best describes the reason why the total rewards design model is circular?
The process should not become too far removed from the corporate mission
Why use caution when comaring data?
The same statistics must be used in order to ensure that the data will be valid and reliable for comparison.
Which of the following statement best describes the job analysis?
The systematic, formal study of the duties and responsibilities that comprise job content to obtain information about the nature and level of the work performed
Which the approach is this, that many successful organization have realized to take in order to attract, motivate and retain the talent?
The total rewards approach
What is the total rewards strategy?
The total rewards strategy is the art of the combining the five elements into tailored packages designed to achieve optimal motivation
How the pay for performance or consecquences can be determined?
The way employee met the defined standards of quality, quantity, time and process
What is thought to be the heart of the performance management process?
Two-way communication
How HR can get guidance in identifying the relative importance of total rewards elements to various employee groups?
Through internal, external or exit surveys
What does employee provide to employer in exchange of total rewards returns?
Time, talents, efforts and results
Which of the following statement best describe the quantitative method or factor methods?
To examin the importance of jobs in terms of compensable factors
Which of the following statement best describe the nonquantitative method or whole-job methods?
To view the job globally in terms of its importance to the company
What is the definition of total rewards?
Total rewards are monetary and nonmonetary return provided to employees in exchange of their time, talents, efforts and results
What is it called when total rewards programs are customized in unique proportion?
Total rewards mix
Competitive position, labor market segments, optimal mix of total rewads and allocation of elements are the part of which strategy?
Total rewards strategy
Each of five elements are addressed in this strategy and HR strategy is a basis of this. Which of the following best describes this strategy?
Total rewards strategy
What are the type of learning opportunities?
Tuition assistance, corportate universities, new technology training, attendance at outside seminars, conferences, virtual education, etc., self-development tools and techniques, on-the-job learning; rotational assignment at a progressively higher scale, sabbaticals with the express purpose of acquiring specific skills, knowledge or experience
What are the mendatory income protection programs in some countries?
Unemployment, worker's compensation, social security, disability (occupational)
Who sometimes represent workers in negotiating with companies for benefits?
Unions
Which country uses indexed career average pay for retirement benefits?
United states
Which is the developed country does not provide the national healthcare program?
United states
Human resources professionals are challenged with finding ways to attract, motivate and retain employees what do the terms mean in relation to employee performance and how can they be accomplished?
Using the total rewards approach and appropriate mix of total rewards elements
Which compensation is contingent on discretion, performance or result achieved?
Variable pay or pay at risk
What is the flow of activities when developing the total rewards design process?
Vision, mission, business strategy & HR strategy
Death benefits, disability and long-term care programs are of which income protection program?
Welfare Benefits
Why does employee choose to terminate the employment, the comment to the organization and productivity is decreased?
When employees feel they are not paid fairly
What describes best the general increases?
When organization finds its compensation program is behind the competitive market rates
Which of the following is an example of a culture change initiative?
Women's advancement
Respecting people for who they are as well as for what they do for the organization is a philosophy of which total rewads element?
Work-Life
Which element satisfies intrinsic needs such as control over one's work environment?
Work-Life
Which element's catagories help organization create a collaborative relationship between employers and employees in order to optimize business outcomes?
Work-Life
Which of the total rewards element is composed to address the unique individual needs of the employee?
Work-Life
Organizatitonal practices, policies, and programs, plus a philosophy to help employee achieve success at home and work, which of the element of total rewards is this?
Work-life
Which element of total rewards provides low cost solutions?
Work-life
Which of the follwing are three of the five elements of total rewards?
Work-life, benefits, performance & recognition
What is the core of work-life element?
Workplace culture
"Options of how, where and when employee do their work" is a definition of which categories of work-life?
Workplace flexibility
What does a performance standard specify?
an expected outcome
Which is the variable pay is given after the close of the year when company wants to recognize an individual or goup for contribution to the organization?
annual Bonuses
Which are the type of variable pay?
commission, bonuses, incentive plans, profit-sharing plans, performance-sharing plans, equity
Which is the following is an example of external outreach?
community volunteer program, matching gift program, cash distribution, executive-on-loan program
How employee can evaluate progess and improve their performance?
comparing performance against goals
What is the first step in building a job worth hierarchy?
complete a job analysis
What are the workplace convenience services?
concierge, post office, dry cleaning, take-home meals, lactation room for nursing mother
What are the characteristics of emotional and attitudinal categories?
connecting, committing, showing passion, feeling invested in outcomes..
Why the job analysis is conducted?
develop job worth hierarchy, document work methods, provide basis for performance appraisal, identify job families, identify qualifications, provide basis for legal and regulatory compliance, determine if a job should exist, identify organizational design elements
What does involve in coaching during performance management process?
face-to-face, open, honest and positive ongoing conversation to get information of employee and monitor employee own performance
In order to keep enthusiasm high about the informal recognition programs, what should company do?
incorporate fun and uniqueness
What are the primary objectives of performance-sharing plans of variable pay?
increase employee identification with the organization's success and increase employee understanding of what is important to the organization
What is the primary objective of profit-sharing plans?
it is implemented ot achieve employee participation and identification with the organization's success.
What are the type of job evaluation?
market-based and content-based
Statement" to view the job globally in terms of its importance to the company"
nonquantitative or whole-job methods
What the the performance measures of incentive plan?
organization objectives, team/group objective, individual objective
Which of the following best describes a type of variable pay?
proft-sharing
What is profit-sharing programs?
provide for employee participation in the profits of an organization
What is team?
small number of people with complementary skills, committed to a common purpose
to identify a compensation range within which multiple jobs are grouped that have similar value based on internal comparisons and external market data.
the difference in wage rates paid at midpoint of two adjacent grades.
What is base pay policy?
the policy should be consistent with the compensation strategy of the organization.
What is the purpose of grades/bands?
to identify a compensation range within which multiple jobs are grouped that have similar value based on internal comparisons and external market data.
What describes best the cost-of-living pay adjustment?
to keep up with rate of inflation
Which of the following statement best describes the market-based hierarchy?
using external data to find the going rate of benchmark jobs in th labor market relevant to the organization
What are the characteristics of behavioral categories?
working hard, working with greater accuracy, going the extra mile..