4 opportunity for personal growth stock options

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4 Opportunity for personal growth, stock options, bonuses and an impressive title. 5 Interesting work, flexible work hours, a secretary and an impressive title. The correct alternative is: 1 a, b, c 2 b, c, d 3 a, b, c, d 4 a, b, c, e 5 a, b, c, d, e 9 When would a compensation system contribute to organisational success? 1 When the compensation strategy supports the business strategy. 2 When the organisation implemented and evaluated the compensation strategy. 3 When the organisation used benchmarking to determine the compensation strategy. 4 When a strategic approach is followed in the development of a compensation strategy. 5 When the organisation assessed the total compensation implications of the compensation strategy. 10 When compensation systems are tailored to reflect top performers’ individual contributions, this may affect the following pay policy adversely: 1 internal alignment 2 external competitiveness 3 management of the pay system 4 emphasis on employee contributions 5 managing pay as part of the business
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MNH306-K/101 17 11 In the current economic climate, unions are negotiating for, and organisations are offering, higher salary increases than in the previous two years. This can be ascribed to the steep rise in cost of living. In terms of competitive advantage this is an example of the following: 1 Aligning the compensation strategy with the overall HR system 2 Differentiating compensation strategy from those of competitors. 3 A good return on the investment made in salaries and incentives 4 Aligning the compensation strategy with the organisation’s business strategy. 5 Aligning the compensation strategy with economic and socio-economic conditions 12 “I don’t work for the money, I do this work because I enjoy it and find it interesting.” In terms of employee compensation this is an example of _____________________. 1 direct compensation 2 nonfinancial rewards 3 intrinsic rewards 4 indirect compensation 5 extrinsic rewards 13 Gugu is a marketing consultant at a large marketing firm. She has received a once-off bonus as a reward for managing a large advertising campaign successfully. This is a(n) _____________. 1 merit increase 2 employee benefit 3 long-term incentive 4 short-term incentive 5 profit-sharing scheme 14 In terms of compensation, fairness means the following: (a) conforming to laws and regulations (b) paying for performance not presence (c) salaries that equal those of competitors (d) recognising employee needs and contributions (e) fair processes for making compensation decisions The correct alternative is 1 a, c 2 b, c 3 c, e 4 d, e 5 b, e 15 Management of a pay system is about ensuring: 1 that the union agreement is implemented conscientiously 2 that employees are productively engaged 3 that pay is managed as part of the business 4 that compensation costs are kept to a minimum 5 effective administration of benefits and incentives
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18 16 A compensation strategy adds value when it _____________.
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