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__________is compensation that depends on some measure of individual or group performance or results in order to be awarded.
One advantage of ______ is "promoting the link between performance and results."
A disadvantage of __________ is that "many jobs have no direct output."
At the beginning of the quarter, Marcus sat down with his manager and set three goals for the next three months. The achievement of each goal will depend on Marcus. No one else in his work group can affect the work toward the goal. Which advantage of individual incentives does this illustrate?
_______________ placed some significant limits on executive pay in public corporations and added new requirements for both reporting of compensation and of shareholder involvement with executive compensation.
A routine component of executive compensation, common "perks" include all of the following except:
Stock incentives, long-term bonuses, and perks are all common _____________ to help the executives act in manners favorable to the firm.
Whitney earns about $100,000 a year. She and her employer both pay 6.2 percent of Whitney's pay into __________ by withholding the money from Whitney's pay check.
Social Security includes all the following EXCEPT:
The insurance program designed to provide medical treatment and temporary payments to employees who cannot work because of an employment-related injury or illness is:
Which entity manages mandatory workers' compensation programs?
A(n) __________ would be used to measure how often claims are made against a workers' compensation insurance policy.
Worker's compensation insurance rates are determined by all factors EXCEPT:
Paige was working on a graphic design project for her employer when she cut her hand with scissors and needed stitches. Her employer paid for the doctor's visit to get the stitches under _________.
A worker would most likely be eligible for unemployment if they:
Due to a recession, Lauren was laid off by her organization. To avoid having Lauren and other laid-off workers stop spending money and thus deepen the recession, __________ will help them maintain some income.
Regular FMLA leave is typically associated with __________ leave?
FMLA affects companies with __ or more employees within 75 miles of a central location.
FMLA leave, when associated with care of a service member, is allowed for as many as ____ workweeks in a 12-month period.
Upon completion of FMLA leave, the employee will return to work to:
Alfred has requested unpaid leave to care for his wife. She was injured while serving in the army in Afghanistan. Alfred may be able to take this leave and return to his original job (or an equivalent one) under ________.
Matthew has just had a child placed in his foster care. He has requested unpaid leave to care for the child. Matthew may be able to take this leave and return to his original job (or an equivalent one) under ________.
The Patient Protection and Affordable Care Act of 2010 mandates that companies with at least ______ employees provide health care coverage or face penalties for not providing health insurance.
Abigail runs a small business of 55 employees. She is working hard to find a way to provide health benefits to all her employees by 2016 to be in compliance with __________.
__________is a law that requires employers to offer to maintain health insurance on individuals who leave their employment (for a period of time).
__________ refers to a maximum amount of time beyond which the employee will have unfettered access to their retirement funds, both employee contributions and employer contributions.
__________is a governmental corporation established within the Department of Labor whose purpose is to insure retirement funds from failure.
Which of the following types of paid time off is mandatory for U.S. employers?
________ is a voluntary benefit consisting of vacation/annual leave, personal time off, sick days, holidays, and severance pay.
While not required, many U.S. employers provide employees with some paid holidays, sick leave, and/or vacation time. These voluntary benefits fall under the category of ________.
Laura's organization provides group health insurance that covers a set percentage of fees for medical services such as doctors or in-patient care. It allows her to go to any doctor or provider. Her group health insurance is a ________.
Tamera's organization provides group health insurance. She has a primary care physician who is her first point of contact for all preventative care and routine medical situations. Her primary care physician can provide her with referrals to specialists, if needed. However, to be covered, the specialists must be within her plan's network. Her group health insurance is a ________.
Myra's organization provides group health insurance. Under her coverage, Myra can see any physician or go to any medical facility. However, if she goes to a physician or facility outside those identified by her plan, she will have to pay a larger percentage of the costs. Her group health insurance is a ________.
Paige's organization provides group health insurance. The plan covers "major medical" costs for each employee in any given year that total more than $10,000. Her group health insurance is a ________.
Erin knows exactly what benefits she will receive when she retires. She has worked for the organization for 20 years and will receive 65% of the average of her two highest years of pay. Erin's retirement plan is a ________ plan.
Michelle puts $17,500 into her 401(k) retirement plan each year. This type of retirement plan is a ________.
Meghan's organization offers several sets of benefits. One set would appeal to young single employees because it provides more paid time off for personal activities and no reimbursements for child care expenses. Another set would likely appeal to parents with young children because it does provide child care reimbursements and other benefits important to parents, such as life insurance. Meghan's organization is offering a _______ flexible benefits plan.
Rachel's organization offers flexible benefits. Rachel receives some of the same benefits as everyone else in the organization, such as health, dental, and life insurance. However, Rachel was also able to add tuition reimbursement and elder care assistance to her benefits package. Rachel's organization is offering a _______ flexible benefit plan.
Chelsea's organization offers flexible benefits. During the open enrollment period, Chelsea can choose any benefits she wants. She selects several benefits, including elder care coverage to help her care for her mother and extra dental coverage because she knows her daughter will need braces this year. Chelsea's organization is offering a _______ flexible benefit plan.
Alexander's organization offers flexible benefits. The plan has five packages from which Alexander can choose. His organization is offering a _______ flexible benefit plan.
Less productive employees who see others getting valued rewards for performance may be convinced to increase their own performance levels in order to get similar rewards.
Individual incentives may motivate undesirable employee behaviors.
Bonuses are more effective when based on meeting or exceeding a performance goal than when based on a time period.
A "differential piece-rate" system provides the employee with a base wage to complete a certain amount of work plus more money for extra pieces produced.
Group incentives tend to require less supervision than individual incentives.
When providing group incentives, individual efforts and results may get "lost" in the group.
Gainsharing programs can include increased labor productivity, lower labor costs, or improved safety.
If a company with a profit-sharing program does not have any profit during a particular period, the company still has to pay out to all employees.
An Employee Stock Ownership Plan is basically a qualified retirement benefit plan.
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 gave shareholders the right to a non-binding vote on compensation packages for executives.
Employers are required to pay for all of employees' Social Security.
Social Security's disability program and Social Security's retirement program are the same benefit.
Medicare is completely free to the retiree.
All employers pay the same workers' compensation insurance premiums, regardless of the type of industry.
Any individual who becomes unemployed is eligible for unemployment benefits.
The FMLA provides paid leave for 12 weeks for reasons such as the birth/adoption of a child or to care for a family member who has a serious health condition.
Under ACA, employees not covered by a healthcare plan at work are required to go to the state health exchange where they can purchase individual coverage.
If a company chooses to provide health care benefits to employees, they have to follow the COBRA, HIPAA, and ERISA rules.
Traditional health care plans cover a set percentage of fees for medical services"”for either doctors or in-patient care.
A defined benefit plan is a health care plan that provides both health maintenance services and medical care as part of the plan.
Modular plans are much easier for HR to manage than other types of flexible benefit plans because there are a limited number of modules to keep track of, thus making them cheaper.
Flexible benefit plans are gaining ground because our workforce is more diverse than it used to be.
List the various options for individual incentives.
Provide an example of a straight piece-rate plan and of a differential piece-rate plan.
List the statutory benefits required by federal law.
Identify the main statutory requirements that must be followed if organizations choose to provide health care or retirement plans for their employees.
List the main categories of voluntary benefits available to organizations.
List the organization's options when providing flexible benefit plans to employees.
Identify and describe the main statutory requirements that must be followed if organizations choose to provide health care or retirement plans for their employees.
List and describe the main categories of voluntary benefits available to organizations.
Describe organization's options when providing flexible benefit plans to employees.
When she is not working, Shelby trains to run marathons. She wishes she had more time to travel to various races, but work keeps her busy. Kevin does not want time off work. He needs to earn as much overtime as possible to pay off his college loans. The company recently offered either a week's pay or a week off as the bonus to the salesperson who made the most sales. Both Shelby and Marcus worked hard to win. Which advantage of individual incentives does this illustrate?
Much fanfare was made about Anthony's latest bonus in the office. He has always been a high performer. However, this year he received an extra-large bonus. His coworker Hannah got a little tired of hearing about Anthony's bonus and decided that next year she would win some of the bonus money. Which advantage of individual incentives does this illustrate?
Naoyuki is a surgical technologist at a hospital. His job involves helping out during surgeries. Among other things, he hands supplies to surgeons and surgeons' assistants, holds retractors and other instruments, and performs various tasks requested by the surgeon. An individual bonus plan would not work for Naoyuki because of which disadvantage of individual incentives?
As a product promoter, Emily receives a commission on every sale made as a result of her presentations. However, part of her job also is to keep the area around her display neat and to return the items she promotes to their correct locations following demonstrations. Since Emily does not get a bonus for cleaning up, she leaves her area messy and does not return products following demonstrations. Which disadvantage of individual incentives does this illustrate?
With the introduction of an individual incentive program, Caitlin has begun spending an hour each day documenting her employees' outcomes. Which disadvantage of individual incentives does this illustrate?
With the introduction of an individual incentive program, Alexander feels like he is competing with the other members of his team instead of working together with them. While the individual incentive plan could mean more money for some members of the team, most members of the team feel the same way Alexander does. They wish they could go back to working together for a group incentive. Which disadvantage of individual incentives does this illustrate?
A lump sum payment, typically given to an individual at the end of a period is a(n):
Jacob sat down with his supervisor at the beginning of the quarter and set a goal to reduce defects on the assembly line from 5% to 2%. If he achieves this goal by the end of the quarter, he will receive a ________ of $4,000.
Acme Global announced that it had $1 million available for pay increases this year. Lindsey was a top performer and hopes to get a 10% __________ incentive.
In which type of individual incentive program does each task have an assigned amount of time for completion?
Blake worked 40 hours this week but was paid for 45 hours. Blake is paid under a(n) __________ plan.
A _______________ is a payment typically provided to a salesperson for selling an item to a customer and is usually paid as a percentage of the price of an item that is sold.
Harold is paid based on a percentage of the value of the products and services he sells. He is being paid by:
For every $1,000 of widgets Tanner sells, he receives a _________ of 10%.
_______________ and _______________ are the keys to successful piece-rate plans.
Angelique is paid a flat rate of $2 per pair of pants that she sews at work. Angelique is being paid on a:
Larry produced 40 pressed inner fenders out of sheet metal per hour and got paid $24 per hour ($0.60 x 40), but Michelle only produced 30 inner fenders per hour and got paid $18.00 ($0.60 x 30). What type of compensation program are Larry and Michelle working under?
In her organization's _________ plan, Nicole is paid for each widget she produces.
One advantage of a ________ is that it "broadens individual outlook."
Which type of incentive program is easier to develop?
A common advantage of group incentives is that:
One disadvantage of group incentives is that individual high-performers may be pressured to ___________ their output to conform to group norms.
_______________ is a breakdown of communication and/or cooperation between individuals in a group.
The link between individual employee actions and the incentives paid to them is most difficult to establish in which type of incentive plan?
At the end of each year, Acme Global's _________ program pays a portion of company proceeds to the employees of the company through a bonus payment.
When the manufacturing department cut waste by 10%, the organization paid each member of the department $500 (a portion of the savings) as a part of the organization's ________ program.
Which group incentive ultimately allows at least part of the stock in the company to be given to employees over a period of time based on some formula?
Acme Global gives its employees stock in the company at the end of each year. The stocks go directly into the employees' retirement accounts as part of the organization's __________ plan.
_______________ allow an individual employee to buy a certain amount of stock in the company at a specified future point.
_______________ let qualifying employees purchase shares of stock in the company at any time and usually at a discount.
Acme Global gave its top executives the opportunity to buy Acme Global stock in 5 years at the same price at which the stock is selling today. Acme Global is using a(n) ________ plan.