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Questions and Answers
What is the primary goal of compensation management?
What is the primary goal of compensation management?
- To attract and retain top talent (correct)
- To decrease employee turnover
- To provide non-monetary benefits only
- To minimize employee productivity
What does compensation management involve?
What does compensation management involve?
- Managing, analyzing, and determining salary, benefits, and incentives (correct)
- Reducing employee productivity through incentives
- Providing non-monetary benefits only
- Setting unrealistic salary expectations for employees
How does compensation management impact employee turnover?
How does compensation management impact employee turnover?
- It has no impact on employee turnover
- It decreases employee productivity leading to higher turnover
- It increases employee turnover due to high salary expectations
- It ensures fair wages and reduces employee turnover (correct)
What factor determines the industry standards for compensation management?
What factor determines the industry standards for compensation management?
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In compensation management, what role do labour unions play?
In compensation management, what role do labour unions play?
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How does the productivity of workers impact compensation management?
How does the productivity of workers impact compensation management?
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What factor mainly influences the cost of living and thereby impacts compensation management?
What factor mainly influences the cost of living and thereby impacts compensation management?
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How do government policies affect compensation management?
How do government policies affect compensation management?
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Hourly pay is the fixed monthly amount that the employer pays to the employee in cash.
Hourly pay is the fixed monthly amount that the employer pays to the employee in cash.
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Commission is generally provided in the case of sales jobs as a fixed percentage.
Commission is generally provided in the case of sales jobs as a fixed percentage.
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Paid holidays are considered as indirect compensation.
Paid holidays are considered as indirect compensation.
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