Podcast
Podcast
Podcast
Something went wrong
Questions and Answers
Questions and Answers
What is the definition of compensation and benefits (C&B)?
What is the definition of compensation and benefits (C&B)?
- A sub-discipline of operations that focuses on employee compensation and benefits policy-making
- A sub-discipline of marketing that focuses on employee compensation and benefits policy-making
- A sub-discipline of finance that focuses on employee compensation and benefits policy-making
- A sub-discipline of human resources that focuses on employee compensation and benefits policy-making (correct)
What are the types of rewards that make up total rewards?
What are the types of rewards that make up total rewards?
- Tangible and intangible rewards (correct)
- Financial and non-financial rewards
- Intrinsic and extrinsic rewards
- Direct and indirect rewards
What are the components of compensation and benefits?
What are the components of compensation and benefits?
- Guaranteed pay, variable pay, benefits, equity-based compensation, and tangible benefits
- Guaranteed pay, variable pay, benefits, equity-based compensation, and extrinsic benefits
- Guaranteed pay, variable pay, benefits, equity-based compensation, and indirect benefits
- Guaranteed pay, variable pay, benefits, equity-based compensation, and intangible benefits (correct)
What is equity-based compensation?
What is equity-based compensation?
What is internal equity?
What is internal equity?
What are the most important internal influencers of employee compensation and benefits?
What are the most important internal influencers of employee compensation and benefits?
What are the most important external influencers of employee compensation and benefits?
What are the most important external influencers of employee compensation and benefits?
What are bonus plans?
What are bonus plans?
What is the concept that bonus plans are designed based on?
What is the concept that bonus plans are designed based on?
Questions and Answers
Something went wrong
Flashcards
Flashcards
Compensation and Benefits (C&B)
Compensation and Benefits (C&B)
A human resources sub-discipline focused on employee pay and benefits policies.
Total Rewards: Types
Total Rewards: Types
Rewards that include both physical and non-physical gratifications.
C&B Components
C&B Components
Guaranteed pay, variable pay, benefits, equity-based compensation, and intangible benefits.
Equity-Based Compensation
Equity-Based Compensation
Signup and view all the flashcards
Internal Equity
Internal Equity
Signup and view all the flashcards
Internal Influencers of C&B
Internal Influencers of C&B
Signup and view all the flashcards
External Influencers of C&B
External Influencers of C&B
Signup and view all the flashcards
Bonus Plans
Bonus Plans
Signup and view all the flashcards
Bonus Plans: Core Concept
Bonus Plans: Core Concept
Signup and view all the flashcards
Flashcards
Something went wrong
Study Notes
Study Notes
Employee compensation and benefits (C&B) is a sub-discipline of human resources that focuses on employee compensation and benefits policy-making. Total rewards combine tangible and intangible rewards such as recognition, work-life balance, and development. Compensation and benefits include guaranteed pay, variable pay, benefits, equity-based compensation, and intangible benefits. Equity-based compensation refers to using the employer's shares as employee compensation, and intangible benefits include desirable work schedules and access to training programs. Total compensation includes guaranteed pay, variable pay, benefits, and equity compensation. External equity refers to the similarity of the practices of other organizations in the same sector, while internal equity refers to employees' perception of their duties, compensation, and work conditions as compared with those of other employees in similar positions in the same organization. HR organizations in large companies are typically divided into HR business partners (HRBPs), HR centers of excellence, and HR shared services. The most important internal influencers of employee compensation and benefits are the business objectives, labor unions, internal equity, organizational culture, and organizational structure. The most important external influencers are the state of the economy, inflation, unemployment rate, labor law, and the relevant industry habits and trends. Bonus plans are variable pay plans that have three classic objectives: adjusting labor cost to financial results, driving employee performance, and employee retention. Bonus plans are designed based on the concept of Operant Conditioning.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Study Notes
Something went wrong
