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Performance Management vs Compensation Management

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Performance Management vs Compensation Management

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Questions and Answers

What is the primary purpose of performance management?

To attract and retain top talent through competitive pay

To determine employee compensation

To foster employee development and improve organizational performance (correct)

To ensure legal and ethical compliance in compensation decisions

Which of the following is NOT a key concern in compensation management?

Ensuring fairness and objectivity in performance evaluations (correct)

Complying with legal and ethical obligations

Aligning compensation with business strategy and employee performance

Maintaining pay equity and internal parity

What is the relationship between performance management and compensation management?

Performance management is a subset of compensation management

They are completely separate and unrelated processes

Compensation management is a subset of performance management

Performance management provides the basis for compensation decisions (correct)

Which of the following is NOT a key component of the scope of performance management?

Salary structure and pay rates Signup and view all the answers

How can compensation management influence employee motivation and performance?

Compensation can influence employee motivation and performance in a significant way Signup and view all the answers

Which of the following is NOT a key difference between performance appraisal and performance management?

Performance appraisal outcomes can lead to compensation adjustments, while performance management outcomes do not influence compensation. Signup and view all the answers

Which management theory or approach emphasized the importance of employee well-being and two-way communication?

Human Relations Movement Signup and view all the answers

What is the primary focus of Competency-Based Performance Management?

Identifying and developing core skills (competencies) needed for effective job performance Signup and view all the answers

Which performance management approach is aligned with agile project management principles?

Agile Performance Management Signup and view all the answers

What is a key aspect of the digital transformation in performance management?

Utilizing technology and data analytics through dedicated software and online platforms Signup and view all the answers