Compensation and Rewards Quiz
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Questions and Answers

What is compensation in the context of organizational behaviour and human resource management?

  • The benefits and incentives offered to employees as part of the reward strategy
  • The sum total of all forms of payments and rewards provided to employees for performing tasks to reach organizational objectives (correct)
  • The salary received at the end of a specified period regardless of the number of hours worked
  • The specific monetary payment provided to employees for their services

    • What is the key reason why an employee chooses to stay in an organization?

  • Opportunities for career growth
  • Job security
  • Perception of the adequacy of organizational rewards (correct)
  • Work-life balance initiatives

    • What does the term 'total reward' refer to?

  • The performance-based bonuses given to employees
  • The total annual salary of an employee
  • The overall compensation package offered by an organization
  • The sum total of all financial and non-financial rewards provided to employees (correct)

    • What are the two categories of wage base pay mentioned in the text?

    <p>Payments based on the number of hours worked and salary</p> Signup and view all the answers

    What is the significance of compensation and rewards in the context of HR practices?

    <p>Reinforcing desirable employee behavior and influencing employee engagement</p> Signup and view all the answers

    What is the primary purpose of pay for performance approaches?

    <p>To link employee compensation directly to their performance</p> Signup and view all the answers

    What is the main determinant of employee engagement and job satisfaction according to the text?

    <p>Perception of the adequacy of organizational rewards</p> Signup and view all the answers

    What does the term 'equity in reward decisions' refer to?

    <p>Ensuring fairness and impartiality in reward distribution</p> Signup and view all the answers

    What is the purpose of job evaluation?

    <p>To ensure pay equity in the organization</p> Signup and view all the answers

    What are the methods of job evaluation?

    <p>Ranking</p> Signup and view all the answers

    What are the determinants of pay levels?

    <p>Labour market conditions</p> Signup and view all the answers

    What places an upper boundary on employee compensation?

    <p>Product market competition</p> Signup and view all the answers

    What is the purpose of compensation and rewards?

    <p>To recognize the value or worth of all jobs within the company</p> Signup and view all the answers

    What is the primary focus of retaining high performers?

    <p>Performance-based incentives</p> Signup and view all the answers

    What does the Equity Theory propose?

    <p>Perceived fairness based on comparing outcomes and inputs</p> Signup and view all the answers

    What does undercompensation inequity lead employees to do, according to the Equity Theory?

    <p>Attempt to increase outcomes by seeking a raise in salary</p> Signup and view all the answers

    What type of equity is based on employees being paid according to the relative value of their jobs?

    <p>Internal equity</p> Signup and view all the answers

    What is the primary focus of contemporary compensation approach?

    <p>Skill-based or Competency-based pay linked to performance</p> Signup and view all the answers

    What are the components of non-financial compensation?

    <p>Satisfaction derived from the job, praise &amp; recognition</p> Signup and view all the answers

    What is the primary focus of the traditional compensation approach?

    <p>Job-based pay dependent on job evaluation</p> Signup and view all the answers

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