Question 1

Which of the following is an objective of variable pay?

Accepted Answer

A)  to help retain long-service employees 
B)  to help link individual performance to individual pay 
C)  to help promote cost savings initiatives by employees 
D)  to help keep labour costs down 
A)  to help retain long-service employees 
B)  to help link individual performance to individual pay 
C)  to help promote cost savings initiatives by employees 
D)  to help keep labour costs down

Question 2

Generally, research supports the notion that employees prefer compensation strategies that have performance pay as the key compensation mechanism.

Accepted Answer

A) True 
 B)False

Question 3

According to the text, what are the key conditions for using output-related pay?

Accepted Answer

Necessary conditions include:
a) The job

Question 4

Which of the following is NOT a key issue in competency-based pay systems?

Accepted Answer

A)  identifying competencies that demonstrably affect performance 
B)  devising methods to measure achievement of each competency 
C)  providing learning opportunities 
D)  developing the merit pay grid 
A)  identifying competencies that demonstrably affect performance 
B)  devising methods to measure achievement of each competency 
C)  providing learning opportunities 
D)  developing the merit pay grid

Question 5

Which statement best describes the difference between pay for knowledge systems (PKS) and job-based pay systems?

Accepted Answer

A)  Pay for knowledge systems involve basing pay on the capabilities of individuals, and job-based pay is based on the characteristics of the job. 
B)  Pay for knowledge systems are applied to managerial employees, and job-based pay is applied to operational-level employees. 
C)  Pay for knowledge systems are more widely used by Canadian firms than job-based pay systems, 
D)  Pay for knowledge systems involve low training costs and are easier to administer than job-based pay systems, 
A)  Pay for knowledge systems involve basing pay on the capabilities of individuals, and job-based pay is based on the characteristics of the job. 
B)  Pay for knowledge systems are applied to managerial employees, and job-based pay is applied to operational-level employees. 
C)  Pay for knowledge systems are more widely used by Canadian firms than job-based pay systems, 
D)  Pay for knowledge systems involve low training costs and are easier to administer than job-based pay systems,

Question 6

Firms using a human relations strategy tend to embrace indirect pay, often making indirect pay a cornerstone of their compensation strategy.

Accepted Answer

A) True 
 B)False

Which of the following is an objective of variable pay?

Generally, research supports the notion that employees prefer compensation strategies that have performance pay as the key compensation mechanism.

According to the text, what are the key conditions for using output-related pay?

Which of the following is NOT a key issue in competency-based pay systems?

Which statement best describes the difference between pay for knowledge systems (PKS) and job-based pay systems?

Firms using a human relations strategy tend to embrace indirect pay, often making indirect pay a cornerstone of their compensation strategy.

A Road Map to Effective Compensation

A Strategic Framework for Compensation

A Behavioural Framework for Compensation

Performance Pay Choices

Formulating the Reward and Compensation Strategy

Evaluating Jobs: The Job Evaluation Process

Evaluating Jobs: The Point Method of Job Evaluation

Evaluating the Market

Evaluating Individuals

Designing Performance Pay Plans

Designing Indirect Pay Plans

Activating and Maintaining an Effective Compensation System

Filters

Exam 4: Components of Compensation Strategy

Which of the following is an objective of variable pay?

Generally, research supports the notion that employees prefer compensation strategies that have performance pay as the key compensation mechanism.

According to the text, what are the key conditions for using output-related pay?

Which of the following is NOT a key issue in competency-based pay systems?

Which statement best describes the difference between pay for knowledge systems (PKS) and job-based pay systems?

Firms using a human relations strategy tend to embrace indirect pay, often making indirect pay a cornerstone of their compensation strategy.

A Road Map to Effective Compensation

A Strategic Framework for Compensation

A Behavioural Framework for Compensation

Performance Pay Choices

Formulating the Reward and Compensation Strategy

Evaluating Jobs: The Job Evaluation Process

Evaluating Jobs: The Point Method of Job Evaluation

Evaluating the Market

Evaluating Individuals

Designing Performance Pay Plans

Designing Indirect Pay Plans

Activating and Maintaining an Effective Compensation System

Filters