Total employee compensation includes both wages and benefits.

• True
• False

On average, companies spend an additional 10% of employee wages/salaries on benefits.

• True
• False

A pension plan is a company-sponsored retirement plan that makes regular payments to employees after retirement.

• True
• False

Federal and State laws require companies to offer certain benefits to employees.

• True
• False

"Job sharing" is when one person is prepared to complete the tasks required in two different jobs.

• True
• False

If a business offers benefits, they are required to offer identical benefits to all employees.

• True
• False

Some companies are reducing their costs by contracting with outside companies to perform some human resources tasks.

• True
• False

One of the requirements for maintaining a high-quality workforce is an effective system for performance review.

• True
• False

A performance review is the process of assessing how well a company is doing financially.

• True
• False

Managers usually conduct formal performance reviews of all employees one or twice a year.

• True
• False