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What is the Hay System primarily used for?

Employee performance management

Employee job evaluation and compensation (correct)

Talent acquisition

HR strategy and planning

Which type of equity refers to one's performance reward as compared to others?

Individual equity (correct)

External equity

Procedural equity

Internal equity

What does the term 'variable pay' primarily refer to?

HR strategy and planning

Direct financial compensation (correct)

Indirect financial compensation

Employee job evaluation

What is the primary focus of HR Controlling?

Compensation and benefits Signup and view all the answers

What is a one-time bonus?

A one-time payment that does not become part of the employee's base pay Signup and view all the answers

What is the purpose of a target bonus?

To reward employees based on individual targets and company performance Signup and view all the answers

What is the primary use of a piece-rate system and commission?

Primarily used for managers and senior employees Signup and view all the answers

What is the purpose of profit sharing?

To distribute organizational profits among employees according to their base pay Signup and view all the answers

What is the purpose of an employee stock ownership plan?

To give employees the right to acquire stocks at market price Signup and view all the answers

What is the purpose of a flexible benefits plan?

To allow employees to select the benefits they prefer Signup and view all the answers

What are the potential problems with flexible benefits plans?

Inappropriate benefits package choices Signup and view all the answers

What is the purpose of offering benefits to employees?

To protect employees and their dependents from financial risks Signup and view all the answers

What is the purpose of deferred compensation?

To provide tax-deductible pension plans Signup and view all the answers

What is the purpose of an employee recognition system?

To acknowledge special performance of colleagues Signup and view all the answers

What is the primary use of a piece-rate system?

Primarily used for hourly wage employees Signup and view all the answers

What is the purpose of an employee stock option plan?

To give employees the right to acquire stocks at market price Signup and view all the answers

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