20 Questions
What is compensation in the context of organizational behaviour and human resource management?
The sum total of all forms of payments and rewards provided to employees for performing tasks to reach organizational objectives
What is the key reason why an employee chooses to stay in an organization?
Perception of the adequacy of organizational rewards
What does the term 'total reward' refer to?
The sum total of all financial and non-financial rewards provided to employees
What are the two categories of wage base pay mentioned in the text?
Payments based on the number of hours worked and salary
What is the significance of compensation and rewards in the context of HR practices?
Reinforcing desirable employee behavior and influencing employee engagement
What is the primary purpose of pay for performance approaches?
To link employee compensation directly to their performance
What is the main determinant of employee engagement and job satisfaction according to the text?
Perception of the adequacy of organizational rewards
What does the term 'equity in reward decisions' refer to?
Ensuring fairness and impartiality in reward distribution
What is the purpose of job evaluation?
To ensure pay equity in the organization
What are the methods of job evaluation?
Ranking
What are the determinants of pay levels?
Labour market conditions
What places an upper boundary on employee compensation?
Product market competition
What is the purpose of compensation and rewards?
To recognize the value or worth of all jobs within the company
What is the primary focus of retaining high performers?
Performance-based incentives
What does the Equity Theory propose?
Perceived fairness based on comparing outcomes and inputs
What does undercompensation inequity lead employees to do, according to the Equity Theory?
Attempt to increase outcomes by seeking a raise in salary
What type of equity is based on employees being paid according to the relative value of their jobs?
Internal equity
What is the primary focus of contemporary compensation approach?
Skill-based or Competency-based pay linked to performance
What are the components of non-financial compensation?
Satisfaction derived from the job, praise & recognition
What is the primary focus of the traditional compensation approach?
Job-based pay dependent on job evaluation
Test your knowledge on compensation, rewards, job evaluation, pay levels, and total rewards in organizational behavior and human resource management with this quiz covering Online MBA Semester I Course code - (OMBA-103) Unit 4 : Lesson 3. Challenge yourself to understand the significance of compensation and rewards, job evaluation, determinants of pay levels, and total rewards in the workplace.
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