Exam 10: Compensation Strategies and Practices

Simon is outraged that Missy was given a raise because she is related to the chair of the board. His sense of fairness has been violated. Which of the following is at issue?

Which of the following best explains what a third-quartile approach is?

Typically, where will organizational policies first direct an employee who wants to complain about his/her pay?

Why do organizations conduct job evaluations?

Which of the following statements provides the best assessment of a compensation system based on job descriptions, job evaluations, pay ranges, and pay grades when the system is put in the context of other types of compensation systems?

Which of the following is NOT a type of job evaluation ranking method?

Which of the following is NOT a step in establishing a pay structure?

You are a young employee who consistently meets performance expectations. You also expect to stay with your company another 10 years. Which type of pay increase system would most likely be to your personal financial benefit?

Which of the following is a term usually associated with a group of jobs having common organizational characteristics?

Which of the following represents the most successful use of team-based compensation?

The Hay system of job evaluation is most often used for professional, managerial, and executive employees.

The first main thing the Pay Equity Act requires is that jobs be evaluated. What is the second main thing?

What are the names of the two orientations at opposite ends of a continuum of compensation philosophies?

The relative value of jobs within an organization is established by evaluating every job in the organization according to various criteria. Which of the following options represents the criteria?

A competency-based pay system rewards employees who are more versatile and have continued to develop their skills.

An employee or group of employees may receive an indirect reward for being part of the organization. Which of the following terms best applies?

Junior Birdman Children's Clothing and Toy Company must employ the most creative and talented children's designers available on the market. It must use a "meet the market" compensation-quartile strategy.

In the last decade, the pressures of the Canadian economy have dictated that all private-sector, for-profit organizations adhere to a pay-for-performance compensation philosophy.

Which of these areas generates the most often noted criticism about merit pay?

For an employer, there are advantages to classifying a worker as an independent contractor. Which of the following is a primary advantage?