Chapter 7 MOS - Chapter 7: Compensation: Recognizing and...

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Chapter 7: Compensation: Recognizing and Rewarding Employees Multiple Choice Identify the choice that best completes the statement or answers the question. D 1. It is important to know that employees, no matter how much they love their jobs, expect to be compensated for their efforts. Direct compensation is one means of compensating employees. Which of the following choices best encompasses direct compensation? C 2. Companies want employees to understand their “total compensation”. Which of the following choices best illustrates “total compensation”? a. Wages or salaries, incentives and employee recognition programs b. Wages or salaries, incentives and commissions c. Employee recognition programs and wages or salaries d. Wages or salaries, flexible hours, incentives and commissions e. Wages or salaries and commissions ANSWER: B POINTS: 0 / 1
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E 3. Compensation is an important part of a company’s overall strategy. Which of the following choices best describes why a company would place such an emphasis on compensation? B 4. ____________ is a standard by which managers tie compensation to employee effort and performance. a. Wages or salaries, incentives and dental plans b. Incentives, dental plans and life insurance coverage c. Wages or salaries, bonuses and pension plans d. Wages or salaries, dental plans and employee recognition programs e. Bonuses, incentives and employee recognition programs ANSWER: D POINTS: 0 / 1 a. To reward employees performance b. To remain competitive in the labour market c. To maintain salary equity among employees d. To remain attractive to prospective employees e. All of the above ANSWER: E POINTS: 1 / 1
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A 5. Pay is a quantitative measure of an employee’s relative worth. Which of the following choices best describes the definition of C 6. _________ employees are compensated only for the time they work. _________ employees are compensated according to the number of units they produce. _________ employees are compensated the same amount for each pay period regardless of the amount of time worked. a. Skill-based standard b. Pay-for-performance standard c. Compensation standard d. Pay-for-effort standard e. Incentive standard ANSWER: B POINTS: 1 / 1 a. An employee’s compensation is equal to the value of work performed b. A wage level at which all the employers are compensating c. All employees receive equal amounts of pay for work performed d. Compensation received is perceived to be equal to the value of work performed e. None of the above ANSWER: D POINTS: 0 / 1
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D 7. A combination of internal and external factors determines the wage mix. Which of the following choices is an example of internal factors? A
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This note was uploaded on 10/16/2011 for the course ENGLISH 101 taught by Professor Parkin during the Summer '11 term at Wilfred Laurier University .

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Chapter 7 MOS - Chapter 7: Compensation: Recognizing and...

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