Job Evaluation
Challenges
Pay Equity
New Approaches
Organization Strategy
100
Name a systematic procedure to determine the relative worth or value of jobs or the consideration of duties, responsibilities and working conditions
What is job evaluation
100
Name the well-know protest movement, and the year it happened, that was caused by unequal distribution of wealth and salary payments
What is Occupy Wall Street, 2011
100
This type of commission is usually based on task achievement and it is earned only when the established sales quota is met
What is a bonus
100
Name a compensation method based on an employees abilities and knowledge
What is skill or knowledge based pay
100
Name a strong motivator of performance
What is money
200
Name another version of the point system matrix used by Canadian and US firms
What is the Hay Plan
200
Name an organization that has the ability to negotiate wages for its members
What is a union
200
Name the year that pay equity became a law
What is 1978
200
Name Rob's favorite teen celebrity
Who is Justin Beiber
200
Name a way you can make a connection between rewards and performance
What is relating the rewards to the performance
300
Name the three major forms in which a job is evaluated.
What is job ranking, job grading and point system
300
Name a way that companies get competitive market data on salaries
What is conducting compensation study/survey to collect market data
300
This policy entails that you cannot discuss or publish individual salaries
What is pay secrecy
300
Name a reward system that has increased in popularity in the past few years that is tailor-made to reward everything an employee values in their employment relationship.
What is total reward model
300
Name one way an organization can make goal setting more effective
What is -acceptable -attainable -employee participation
400
Name 3 objectives sought through effective compensation
What is -Acquire qualified personnel -Retain present employees -Ensure equity -Reward desired behavior -Control costs -Comply with legal regulations -Further administrative efficiency
400
Name a rate that pays higher than the contractual or formerly established rate for the job
What is red-circle rate
400
In Canada for every dollar a man makes, a woman ( in the same position) makes
What is 80 cents
400
When compensating internationally it is most important to consider what kind of differences found in each country
What is cultural differences
400
When dealing with retention and attraction what do companies have to have to be the most attractive
What is most valued rewards
500
Name the 5 major phases of compensation management
What is I) Job Analysis II) Job Evaluation III) Wage and Salary Surveys IV) Pricing Jobs V) Match
500
Give two reasons that compensation is important for organizations
What is 1) help companies to compete for people at an affordable cost 2) enable companies to administer pay fairly and rationally 3) help companies to communicate salary decisions to employees
500
This incentive plans main objective is to reduce costs through increased efficiency and the sharing of resultant savings among workers
What is the scanlon plan
500
Variable pay can be used to 1) improved business performance, 2)control labour costs and 3)
What is keep compensation competitive
500
Name three of the compensation strategies that an organization must look at
What is - identifying valued rewards, - relating rewards to performance, -setting performance goals, - motivation and punishment, - motivating skill and knowledge development, - fostering attraction and retention
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