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What is the primary factor that will prevent companies from growing in the next decade?
Protection programs are what type of compensation benefits?
Which of the following would be an example of a non-monetary reward?
This law made it illegal to pay women less for performing equal work as men.
What is the typical annual Cost-of-living adjustments (COLAs) in recent years?
What type of pay system rewards employees for partially or completely attaining a predetermined work objective?
Jason works at a call center for an insurance company and he has been answering calls regarding auto insurance. Recently, he started to attend a training program about home insurance. Upon successful completion of this training program, Jason will be able to handle home insurance questions and queries as well. If this insurance company has a compensation policy that rewards Jason's completion of this training, then what type of pay system does it employ?
Which of the following is NOT one of the three broad categories that discretionary benefits fall into?
Samuel is a recently hired HR professional working at XYZ Motor Co. His current project involves recording the time it takes assembly workers to complete their tasks. With the help of industrial engineers in the manufacturing plant, the aim of this project is to identify the most effective ways of assembly operations. Which of the following is NOT related to Samuel's project?
These are positive employer gestures that beyond what was required by law, created in part to thwart potential union activity.
A company's ability to sustain market share and profitability for several years running is referred to by what term?
This term suggests that a loss is likely for the firm, and that the individual will be left with little control.
What strategy describes the use of benefit and compensation packages in order to support both HR and competitive strategies?
Ryanair uses one type of aircraft in its fleet and requires their passengers to carry their luggage to the plane. Ryanair's decisions exemplify which of the following competitive strategies?
A company using this competitive strategy seeks to offer a product or service that is completely unique from other competitors in their market segment.
Which of these actions would HR seek to encourage in attempting to create a lowest-cost competitive strategy?
This group is directly involved in producing goods and delivering services for a company.
These describe the terms of employment that are set between management and union bargaining representatives.
Sandra's position changed from supervisor at the planning department to supervisor at the new projects department. In terms of career development, which of the following is more applicable to Sandra's situation?
Which of these is a company sponsored program that provides income to workers throughout their retirement?
This is a way in which companies often trim their payroll responsibilities by encouraging higher paid workers with more seniority to voluntarily leave the company earlier than previously planned.
What U.S. federal law established a national minimum wage for employees involved in commerce (rather than just those employed by companies working for the U.S. government), as well as prohibit most employment of minors in oppressive child labor?
These ordered sets of jobs make it easy for compensation managers to give a clear relative value for all jobs within a company.
What is a systematic process for gathering, documenting, and analyzing information in order to describe jobs?
What do compensation managers use to recognize differences in the relative net worth of jobs and to establish pay differentials based upon management priorities?
These compensation systems go a long way in attracting and retaining the most qualified employees, and are based upon market surveys and compensation surveys.
This allows business professionals to determine where they currently stand in the market based on both the external market context and internal factors.
What represents the pay rate differences for jobs and employee contributions of unequal worth to a company?
These build upon pay grades, and include maximum, minimum, and mid-point pay rates for jobs in particular pay grades.
Which of the following are stakeholders within a company?
________ compensation refers to the mental state of employees as a result of their performance on the job.
________ pay systems reward employees with base pay raises according to their length of service on the job.
________ decisions are made in order to support the fulfillment of strategic decisions.
Strategic management involves distinguishing between ________ and ________ in attempting to achieve company goals, thus making strategic management an inexact process.
Competitive ________ is the use of company resources (such as capital, technology, and human resources) to promote and sustain competitive advantage.
P&G uses ________ strategy based on brand image and price premium in between its Iams and Eukanuba brands.
Human resource professionals are ________ employees, because they exist to provide support services for line employees.
Companies that are implementing ________ plans generally increase the amount of classroom and on-the-job training, as these types of plans make training necessary rather than optional.
Employment ________ occurs when an employee's agreement to perform work is ended, be it voluntarily or involuntarily.
Due to recent economic downturn, XYZ Co. decided to shut down one of its appliance manufacturing plants in the United States and therefore around 300 workers need to be laid off. XYZ Co. will award these laid off workers with 6 months of ________ pay.
What is merit pay? Explain the role of performance appraisals in merit pay programs.
What is pay-for-knowledge plan? Explain the role of training in pay-for-knowledge plans.