Exam 1: Strategic Compensation: a Component of Human Resource Systems

What type of pay system rewards employees for partially or completely attaining a predetermined work objective?

Due to the recent economic downturn,XYZ Co.decided to shut down one of its appliance manufacturing plants in the United States,and therefore around 300 workers were laid off.XYZ Co.has chosen to award laid-off workers 6 months of ________ pay.

What are the three questions that compensation professionals should answer to help determine whether they are making a strategic contribution to the company?

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 describes Sandra's situation?

Saudi Arabia,which is one of the top oil producing countries in the world,continues to pump crude oil even as demand for oil decreases.This activity is considered to be a(n)________ to other oil producing countries such as the United States.

Ryanair uses one type of aircraft in its fleet and requires their passengers to carry their luggage to the plane.Which of the following competitive strategies does Ryanair use?

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?

________ refers to the design and implementation of compensation systems to reinforce the objectives of both HR strategies and competitive business strategies.

Discerning threats and opportunities is the main focus of which activity?

Cost-of-living adjustments (COLAs)are typically based on which index?

The success of HR departments depends on how well they serve the interests of which of the following stakeholder groups?

This term suggests that a loss is likely for the firm,and that the individual will be left with little control.

What is a constituency? How does it affect the HR department?

Since the economic recession (2007-2009)ended,fewer companies have offered pay increases and,those that do,are offering lower amounts.Approximately,how much have pay increases been?

Protection programs are what type of compensation benefits?

The demand for human resource professionals is ________.

Employment ________ occurs when an employee's agreement to perform work is ended,whether it is voluntarily or involuntarily.

What do compensation managers use to recognize differences in the relative worth of jobs and to establish pay differentials based upon management priorities?

This agreement describes the terms of employment that are set between management and union bargaining representatives.

Oftentimes,companies use this method to trim their payroll responsibilities by encouraging higher paid workers with more seniority to voluntarily leave the company earlier than previously planned.