Podcast
Questions and Answers
What is one of the purposes of a compensation package?
What is one of the purposes of a compensation package?
- To discourage individual performance
- To decrease employee satisfaction
- To attract the best employees for the job (correct)
- To reduce the number of employees in the organization
How can compensation be used to improve morale and satisfaction among employees?
How can compensation be used to improve morale and satisfaction among employees?
- By decreasing health-care benefits
- By discouraging employees from working at their peak performance
- By rewarding individual or team performance (correct)
- By reducing the pay scale for all employees
What impact can fairly compensated, motivated employees have on an organization?
What impact can fairly compensated, motivated employees have on an organization?
- They can reduce customer service quality
- They can hinder organizational growth and expansion
- They can add to the bottom line and facilitate organizational growth and expansion (correct)
- They can increase employee turnover
What is an important consideration when developing a compensation package?
What is an important consideration when developing a compensation package?
From an employee's perspective, what is a key factor in a fair wage?
From an employee's perspective, what is a key factor in a fair wage?
Why should the compensation package be competitive enough to motivate people to stay with the organization?
Why should the compensation package be competitive enough to motivate people to stay with the organization?
What is the process of determining the relative worth of jobs to determine pay structure?
What is the process of determining the relative worth of jobs to determine pay structure?
Which type of compensation philosophy is to pay the going rate for a particular job, within a particular market based on research and salary studies?
Which type of compensation philosophy is to pay the going rate for a particular job, within a particular market based on research and salary studies?
In which type of job evaluation system, individual jobs are compared with every other job, based on a ranking system, and an overall score is given for each job?
In which type of job evaluation system, individual jobs are compared with every other job, based on a ranking system, and an overall score is given for each job?
Which type of organization chooses a compensation philosophy that will determine the going rate and add a percentage to that rate, such as 5 percent?
Which type of organization chooses a compensation philosophy that will determine the going rate and add a percentage to that rate, such as 5 percent?
What is the balance of salary and other rewards, such as bonuses, should be part of your compensation package referred to as?
What is the balance of salary and other rewards, such as bonuses, should be part of your compensation package referred to as?
Should there be a specific pay scale for each position in the organization, or should salaries be negotiated on an individual basis is an example of:
Should there be a specific pay scale for each position in the organization, or should salaries be negotiated on an individual basis is an example of:
What is the percentage of organizations that have a written, documented compensation policy?
What is the percentage of organizations that have a written, documented compensation policy?
Which type of job evaluation system determines the value of a job by calculating the total points assigned to it?
Which type of job evaluation system determines the value of a job by calculating the total points assigned to it?
What should be part of your compensation package based on the balance of salary and other rewards?
What should be part of your compensation package based on the balance of salary and other rewards?
What is defined as the process of determining the relative worth of jobs to determine pay structure?
What is defined as the process of determining the relative worth of jobs to determine pay structure?
What is the primary purpose of a compensation package?
What is the primary purpose of a compensation package?
How can compensation be used to improve morale, motivation, and satisfaction among employees?
How can compensation be used to improve morale, motivation, and satisfaction among employees?
What should the pay scale reflect within an organization?
What should the pay scale reflect within an organization?
What impact can fairly compensated, motivated employees have on an organization?
What impact can fairly compensated, motivated employees have on an organization?
Which factor determines the value of a job by calculating the total points assigned to it?
Which factor determines the value of a job by calculating the total points assigned to it?
Why should the compensation package be competitive enough to motivate people to stay with the organization?
Why should the compensation package be competitive enough to motivate people to stay with the organization?
What factor determines if pay is equitable and fair among employees?
What factor determines if pay is equitable and fair among employees?
Which type of organization chooses a compensation philosophy that will determine the going rate and add a percentage to that rate, such as 5 percent?
Which type of organization chooses a compensation philosophy that will determine the going rate and add a percentage to that rate, such as 5 percent?
In which type of job evaluation system, individual jobs are compared with every other job, based on a ranking system, and an overall score is given for each job?
In which type of job evaluation system, individual jobs are compared with every other job, based on a ranking system, and an overall score is given for each job?
What balance of salary and other rewards, such as bonuses, should be part of a compensation package referred to as?
What balance of salary and other rewards, such as bonuses, should be part of a compensation package referred to as?
What is an important consideration when developing a compensation package?
What is an important consideration when developing a compensation package?
What percentage of organizations have a written, documented compensation policy?
What percentage of organizations have a written, documented compensation policy?
What process determines the relative worth of jobs to determine pay structure?
What process determines the relative worth of jobs to determine pay structure?
Which type of compensation philosophy pays a particular percentage less than the market?
Which type of compensation philosophy pays a particular percentage less than the market?
