Compensation and Benefits Roles Flashcard

Front

What is included in Nonfinancial Compensation?

Back

Employee recognition programs, rewarding jobs, and flexible work hours

Front

What is the purpose of a Compensation Strategy?

Back

Linking compensation to objectives and bases for compensation

Front

What does Compensation Design involve?

Back

Internal and external factors and job evaluation systems

Front

What is the first step in developing a compensation strategy?

Back

Analyze organizational objectives

Front

What shift is involved in defining rewarded behaviors?

Back

From attendance to performance

Front

What does strategic compensation align with?

Back

The company’s goals

Front

What is a key component of a compensation strategy?

Back

Defining rewarded behaviors

Front

How does a formal compensation strategy help companies?

Back

By gaining a competitive advantage over everyone else

Front

What does the Objectives and Key Results (OKRs) system tie compensation to?

Back

Clearly set measurable objectives

Front

What tasks do Administrative employees perform?

Back

Office or business-related tasks with discretion