Ladder

Which is not the objective of Compensation?

• To establish equity

  
  

• To Improve Employee Efficiency

• To Control Cost

• To Comply with illegal Regulation

Which of the following is an example of indirect pay?

• pay for knowledge

• profit-sharing
  

• salaries

• health & life insurance

Which of the following base pay methods systematically ranks all jobs in the firm according to their value to that firm and then calibrates this system to the labour market?

• job evaluation

• competency-based

• market pricing

• skill-based

Which job is suitable for performance pay?
Select one:

• Nurse

• Heavy equipment salesperson

• Teacher

• Garbage collector

Piece rate wages are set using

• A- market pricing.

• b- job evaluation.

• c- pay for knowledge.

• B and C

Which of the following are important criteria when evaluating compensation strategies?

• Affordability

• Legality

• Fit with managerial strategy

• All of the above

Compensation can be __ benefits.

• Monetary

• Non - monetary

• 
  Both 1 & 2

• 
  None of the above

A compensation program should address which of the following objectives?

• Legal compliance with all appropriate laws and regulations

• 
  Cost-effectiveness for the organization

• 
  Internal, external and individual equity for employees

• All of the above

Who are the two main stakeholders in an organization?

• CEO and top management

• Employers and employees

• Executives and owners

• None of the above

Using_______, the organization compares the value of jobs to one another, which needs the evaluators to identify the influence on different positions or job duties and impacts on jobs to the company.

• Ranking method

• Classification method

• Job-evaluation

• Point factor