Common Goals of Compensation Policies Quiz

One common goal of compensation policies is to ______ new employees.

When setting pay policy, one factor to consider is the ______ of pay within the organization.

A sample decision to make in formulating compensation policies is the ______ at which pay raises are to be granted.

A strategic goal of employee ______ can be achieved by developing compensation strategies that enhance retention.

One common goal of compensation policies is to maintain ______ equity among employees.

A organization's compensation policy should be aligned with the company's ______ plan.

A compensation program should be ______ to attract qualified employees to join the organization.

One of the strategic objectives of a compensation program is to provide ______ to employees.

When developing a compensation plan, one must consider whether the compensation plan is perceived as fair ______ within the company.

A decision to make when formulating a compensation policy is whether compensation will be paid mainly on a ______ basis or will it fluctuate depending on performance and company profits.

The role of compensation policy in employee retention is to make income ______, predictable and insulated from changes in employment, profitability, individual performance and personal health.

It is important to align the compensation policy with the company's ______ plan to ensure the policy supports the company's goals and objectives.

The company will decide whether the compensation plan will place most employees under the same compensation system, known as ______, or establish different plans by organizational level and/or employee group.

A key decision in formulating compensation policies is whether to compensate employees at ______ market levels.

The compensation plan may emphasize motivating employees through ______ rewards such as pay and stock options.

The company must decide whether to have ______ pay, where employees have access to information about other worker’s compensation levels and how compensation decisions are made.

Compensation decisions can be made in a tightly controlled central location or delegated to ______ of the firm’s unit.

A primary design criterion for compensation programs is that they must be ______ equitable.