16 Questions
What is the Hay System primarily used for?
Employee job evaluation and compensation
Which type of equity refers to one's performance reward as compared to others?
Individual equity
What does the term 'variable pay' primarily refer to?
Direct financial compensation
What is the primary focus of HR Controlling?
Compensation and benefits
What is a one-time bonus?
A one-time payment that does not become part of the employee's base pay
What is the purpose of a target bonus?
To reward employees based on individual targets and company performance
What is the primary use of a piece-rate system and commission?
Primarily used for managers and senior employees
What is the purpose of profit sharing?
To distribute organizational profits among employees according to their base pay
What is the purpose of an employee stock ownership plan?
To give employees the right to acquire stocks at market price
What is the purpose of a flexible benefits plan?
To allow employees to select the benefits they prefer
What are the potential problems with flexible benefits plans?
Inappropriate benefits package choices
What is the purpose of offering benefits to employees?
To protect employees and their dependents from financial risks
What is the purpose of deferred compensation?
To provide tax-deductible pension plans
What is the purpose of an employee recognition system?
To acknowledge special performance of colleagues
What is the primary use of a piece-rate system?
Primarily used for hourly wage employees
What is the purpose of an employee stock option plan?
To give employees the right to acquire stocks at market price
Test your knowledge of organizational behavior and human resource management with this quiz on the development of a base pay system, factors determining job evaluation and compensation using the Hay System, and the types of variable pay. Assess your understanding of essential concepts from Online MBA Semester I Organizational Behaviour and Human Resource Management Course (OMBA-103) Unit 4 : Lesson 4.
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