Completion of the cover page of the examination

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Completion of the cover page of the examination answer book Please ensure that you fill in all your personal details on the cover of the examination answer book. ALSO indicate the numbers of the questions you have completed in the allocated space. Feedback on previous examinations on this module In the past, students have often made the following mistakes when preparing for and writing the examination: Some students do not study all the prescribed chapters for the examination. Questions are not read and answered properly. Students do not write enough RELEVANT facts (from the prescribed material) to obtain enough marks for the questions. 3 COMMENTS ON ASSIGNMENT 01 1 The compensation model consists of the following components: (a) compensation objectives (b) internal alignment (c) policy decisions (d) management (e) employee performance The correct alternative is 1 a, b and e 2 b, c and d 3 b, c and e 4 a, b and d 5 a, c and d There is no correct alternative for this question and you have all been given credit for it. I apologise for the mistake. The correct alternative should have been: The pay model consists of compensation objectives, policy decisions and the techniques that make up the compensation system. Please make sure that you understand the whole of the compensation model, because this will assist you in mastering the work in the prescribed book. Refer to exhibit 1.5 in the prescribed book. 2 Total compensation consists of (a) base salary (b) merit increases (c) challenging work (d) allowances (e) employment security The correct alternative is 1 a, c and d 2 b, c and d 3 a, d and e 4 b, d and e 5 a, b and d The correct alternative is option 5. Refer to exhibit 1.3 in the prescribed book. Total compensation consists of the following: cash compensation, which includes base salary , merit increases and incentives
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4 MNH306-K/201 benefits, which include income protection, work/life focus and allowances 3 One can determine whether a compensation strategy is a source of competitive advantage by using the following three tests: (a) Is it aligned? (b) Does it comply with legal requirements? (c) Does it differentiate? (d) How is it managed? (e) Does it add value? The correct alternative is 1 a, c and e 2 b, c and d 3 a, b and c 4 a, d and e 5 b, c and e The correct alternative is option 1. See “Source of competitive advantage: Three tests” in the prescribed book. Three tests determine whether a pay strategy is a source of competitive advantage: Is it aligned? Does it differentiate? Does it add value? 4 Internal alignment refers to the following: 1 the pay relationships among different jobs, skills or competencies within a single organisation 2 the comparative pay among different jobs, skills or competencies between different organisations 3 a pay structure that supports the organisational structure, is fair and motivates employee behaviour 4 the pay relationship among similar jobs, skills or competencies within a single organisation 5
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