The package of quantifiable rewards an employee receives for his or her labors includes three components, base, indirect compensation and compensation/benefits
What is Total Compensation
100
Define internal Equity
What is What is the perceived fairness of the pay structure within a firm
100
On the average the US pay is variable by thid percentage
a 25
b 10
c 35
d 55
100
A pay plan in which most employees are part of the same compensation plan
What is egalitarian
200
The fixed pay an employee receives on a regular basis is
What is Base Pay
200
Define External Equity
What is the perceived fairness in pay relative to what other employers are paying for the same type of labor
200
On the avarag the percentage of firms offering variable pay is
a 35
b 55
c 85
d 75
200
A pay plan in which different compensation systems are established for employee groups at different organizational levels
What is elitist pay system
300
Pay incentive is defined as
What is A program designed to reward employees for good performance
300
Name the two basic models that managers cane use when considering Internal versus External Equity
What is the distributive justice model and the labor market model
300
Which of the following jobs can have 100% of their pay as variable
a engineer
b accountant
c marketing
d Sales
300
name three nonmonetary rewards
interesting work, challenging assignments, and public recognition
400
In 2011 benefits averaged $22,000 per year
What is False $20,500
400
Individual Equity is defined as
What is the perceived fairness of individual pay decisions
400
What is one of the most important outcomes for the distributive model
What is pay
400
Fixed pay is the rule in the majority of what countries organizations
a Japan
b Germany
c China
d U.S.
400
in general companies that emphasize blank rewards want to reinforce individual achievment and responsibility
What is monetary
500
According to a survey of 350 firms, 85% are increasing communication about the real costs of benefits
What is True
500
Groups of jobs that are paid with in the same pay range
What is pay grades
500
What is the basic point of the labor market model
external equity is achieved when the firm pays the employees the going rate for the work they do
500
What is one of the reasons compensation entitlements are going out the window?
a smaller workforces
b the economy
c executives are making too much in incentive pay
d A shift to variable pay plans continues
500
The Fortune 100 best companies to work for identifies this as becoming more common?
What is family friendly policies or work life balance programs