Business Management Chapter 23 Test Review

Human resources management includes acquiring, developing, & compensating the people who do the company’s work.

A job specification is the form used to complete a performance appraisal.

In the 360-degree feedback system, reviewer responses are discussed at a round table.

Job layoffs may be temporary or permanent.

Companies use exit interviews to gather feedback about the company’s policies & procedures, management, & operations.

Problems in a company like higher training costs & dissatisfied workers can be reduced by an effective selection process

The largest component of OASDI is the payment of retirement benefits.

Employee turnover is the rate at which employees are fired from a company.

Human resources is a department that typically has little contact with the other departments in a company.

Social Security is a government program that provides supplemental health insurance to people over the age of 65.