Chat with AIExam 1: Strategic Compensation: a Component of Human Resource Systems
What is a constituency? How does it affect the HR department?
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VerifiedThe HR department does not exist in isolation.Rather,it must respond to a variety of parties,each with their own interests.In fact,the success of an HR department may depend on how well it serves various constituencies.Constituencies can include employees,line managers,executives,unions,the U.S.government,and customers.Each of these groups expects certain actions by the HR department,rates these actions according to their own standards,and tries to set up goals or present constraints within their realm of understanding.As a result,the HR department plays the role of a juggler trying to meet often-competing goals presented by multiple constituencies.
Compensation represents both the intrinsic and extrinsic rewards employees receive for performing their jobs.Together,both intrinsic and extrinsic compensation describe a company's total compensation system.Briefly describe both types of rewards and indicate the professionals who are responsible for managing them.
(31) VerifiedIntrinsic compensation reflects employees' psychological mind-sets that result from performing their jobs.Extrinsic compensation includes both monetary and nonmonetary rewards.Organizational development professionals promote intrinsic compensation through effective job design.Compensation professionals are responsible for extrinsic compensation.Extrinsic compensation includes both monetary and nonmonetary rewards.Compensation professionals establish monetary compensation programs to reward employees according to their job performance levels or for learning job-related knowledge or skills.As we will discuss shortly,monetary compensation represents core compensation.Nonmonetary rewards include protection programs (e.g.,medical insurance),paid time off (e.g.,vacations),and services (e.g.,day care assistance).Most compensation professionals refer to nonmonetary rewards as employee benefits.
Which analysis allows business professionals to determine where they currently stand in the market based on both the external market context and internal factors?
(36) VerifiedD
Which of the following represents the pay rate differences for jobs and employee contributions of unequal worth to a company?
(26) 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?
(32) What do compensation managers use to recognize differences in the relative net worth of jobs and to establish pay differentials based upon management priorities?
(39) A company's ability to sustain market share and profitability for several years running is referred to by what term?
(29) 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.
(27) This group is directly involved in producing goods and delivering services for a company.
(38) ________ decisions are made in order to support the fulfillment of strategic decisions.
(39) These are positive employer gestures that go beyond what was required by law,created in part to thwart potential union activity.
(32) Employment ________ occurs when an employee's agreement to perform work is ended,whether it is voluntarily or involuntarily.
(34) ________ compensation refers to the mental state of employees as a result of their performance on the job.
(31) Which of the following plans is considered a company sponsored program that provides income to workers throughout their retirement?
(29) This term suggests that a loss is likely for the firm,and that the individual will be left with little control.
(39) What type of pay system rewards employees for partially or completely attaining a predetermined work objective?
(28) 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?
(31) P&G uses a ________ strategy based on brand image and price premium in between its Iams and Eukanuba brands.
(31) Which of the following is NOT one of the three broad categories that are considered discretionary benefits?
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