Compensation Systems Quiz

Choose a study mode

Play Quiz

Study Flashcards

Spaced Repetition

Chat to Lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Download our mobile app to listen on the go

Get App

Questions and Answers

What is the main purpose of compensation systems?

To provide fair payment for the work done by employees, motivate them, and enhance their job satisfaction (correct)
To provide payment for the work done by employees without considering their job satisfaction
To minimize payment for the work done by employees in order to maximize company profits
To provide excessive payment for the work done by employees, irrespective of their qualifications and skills

What does direct compensation include?

Stock options with a company that can be shared after a period of time
Employee benefits and services
Wages paid and variable pay such as bonuses, commissions, and stocks (correct)
Short-term compensation like sales bonuses given to employees

What does indirect compensation include?

Employee benefits and services (correct)
Stock options with a company that can be shared after a period of time
Wages paid and variable pay such as bonuses, commissions, and stocks
Short-term compensation like sales bonuses given to employees

What is the difference between short and long-term compensation?

<p>Short-term compensation includes sales bonuses given to employees, while long-term compensation includes stock options that can be shared after a period of time (B)</p> Signup and view all the answers