Discuss the below:
1. The term pay refers to all forms of financial returns and tangible benefits that employees receive as part of an employment relationship.
True
False
2 The most common traditional pay structure involves grouping similar jobs into pay grades and assigning a salary range, with a minimum, midpoint, and maximum.
True
False
3 Broadbanding can increase worker productivity and product quality, while decreasing absenteeism, turnover, and accident rates.
True
False
4 The Consolidated Omnibus Budget Reconciliation Act and the Family and Medical Leave Act focus primarily on employees' right to maintain their health care benefits.
True
False
5 A group of jobs having the same basic nature of work but requiring different levels of skill, effort, responsibility or working conditions are known as __________.
a. job classification
b. job family
c. job broadbanding
d. job evaluation
e. job hierarchy
6 Which of the following is an example of job family?
a. Secretary, receptionist, assembler
b. Word processor, receptionist, administrative assistant
c. Scientist, engineer, doctor
d. Lawyer, doctor, engineer
e. Psychologist, teacher, doctor
7 Under the __________ program, eligible individuals are covered by a comprehensive program of retirement, survivor, disability, and health benefits.
a. employee welfare
b. social security
c. long-term capital accumulation
d. time-off plans
e. employee services
8 Which of the following law amended the FLSA to include a prohibition against pay differentials based on gender?
a. Minimum Wage Law of 938
b. Equal Pay Act (EPA) of 963
c. Davis-Bacon Act of 93
d. Walsh-Healey Act of 936
e. Services Contract Act of 965
9 Which of the following is not a compensation component for international assignments?
a. Base salary
b. Foreign service premiums
c. Allowance
d. Benefits
e. Pay for performance
10 The __________ policy requires a pay structure that is based on an internal assessment of job worth.
a. pay equity
b. supplement
c. compensation
d. minimum wage
e. labor
11. One reason for the failure of PFP systems is poor perceived connection between performance and pay.
True
False
12 Stock awards and stock options, identified as a means for rewarding performance, are well suited for meeting short-run objectives.
True
False
13 Team-based PFP is a better approach when it is part of a comprehensive team-based model of HRM and compensation.
True
False
14 Considering the procedure to calculate the standard rate, if the standard time for a task is two hours and the fair hourly wage is $0, the standard rate is $20.
True
False
15 PFP is a characteristic of High Performance Work Systems (HPWS) and is linked to a firm's performance particularly when the:
a. CEO pay is a lower base pay with the majority of compensation coming from incentive plans.
b. PFP system is closely aligned with the company's strategic objectives.
c. company has both profit sharing and employee stock option plans established.
d. performance is measurable.
e. size of the award is sufficient to stimulate increased effort.