31 Questions
What is the definition of compensation and benefits?
Compensation includes all forms of pay and reward, while benefits do not include wages.
What is a remuneration package?
A package including basic pay, benefits, and incentives.
What distinguishes an incentive from basic pay?
Basic pay consists of fixed monthly payments, while incentives are variable based on performance.
What is the purpose of an incentive scheme?
To influence employee behavior to achieve pre-determined objectives.
What does the Employment Act 1955 cover?
It covers coverage, working hours, public holiday, and rest day for employees.
What is the purpose of offering non-statutory benefits to employees?
To provide additional motivation and rewards beyond statutory requirements.
What is the main objective of the employer according to the text?
To maximize profits
Which factor affects individual levels of pay according to the text?
Company profitability
What type of system pays workers based on the number of units produced in a given time?
Piece-work system
How many days of maternity leave are female employees entitled to for every confinement?
60 days
What does section 59 of the Employment Act stipulate?
Minimum rest day entitlement
What is the minimum number of paid gazetted public holidays per year entitled to workers under the Employment Act?
11 days
According to the Employment Act, how many days of annual leave are employees entitled to if they have worked for more than 5 years?
16 days
What does Section 60 of Employment Act entitles the workers to?
Weekly rest day
What does the piece-work/piece related system pay workers according to?
Number of units produced
Who is entitled to maternity allowance?
Female employees with more than 5 surviving children and served the employer for at least 90 days before giving birth.
What is the primary purpose of an incentive scheme?
To influence behavior to achieve specific pre-determined objectives
What distinguishes non-statutory benefits from statutorily required benefits?
Statutorily required benefits are mandated by law
In the context of compensation, what does the term 'remuneration package' encompass?
All forms of pay and reward received by employees
What is the main purpose of a time-related wage system?
To compensate based on the time spent working
How are piece-related systems different from time-related wage systems?
Piece-related systems compensate employees based on output or performance
What is the purpose of offering benefits to employees, as discussed in the text?
To attract and retain talented employees
What is the purpose of statutory benefits?
To attract and retain employees
What is the significance of offering non-statutory benefits to employees?
To improve employee morale
What does the Employment Act stipulate in Section 59?
Weekly rest day entitlement for all employees
Which factor affects individual levels of pay according to the text?
Degree of skill
What distinguishes an incentive from basic pay?
Incentives are related to performance and productivity
What is the main objective of offering maternity allowance to female employees?
To have a stable income for the employee
What does the Employment Act entitle workers to in Section 60?
Minimum number of paid public holidays per year
What is the primary goal of employers according to the text?
To maximize profits
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This quiz covers the different types of payment structures, including basic pay, benefits, and incentives, as well as the wage systems currently in use. It also explores the reasons why employers offer benefits to employees and the statutorily required benefits such as those under the Employment Act 1955.
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