HR REVIEW CHAPTER 8,9

Money and other valuable items (e.g., benefits, bonuses, privileges) exchanged to perform work. What is it called?

• Reward

• Compensation

• Salary

• Wage

The total amount of money and other valuable items exchanged to perform a job. What is it?

• Compensation package

• Compensation program

• Compensation policy

• Compensation rate

Financial and non-financial compensation is provided to an employee by another person. What type of reward is this?

• Intrinsic reward

• Extrinsic reward

• Bonus

• Tip

What can spontaneous compensation be called?

• Intrinsic reward

• Extrinsic reward

• Bonus

• Tip

The process of managing the external and internal reward systems of an organization. What is this process called?

• Compensation package

• Compensation policy

• Compensation program

• Compensation management

The pay range for a new hotel front desk employee can be between $7.50 and $8.50 per hour to start. What can it be called?

• Minimum wage

• Maximum wage

• Salary range

• Bonus

The current salary range for different types of jobs in a specific community or labor market. What is this?

• Industry salary rate

• Incentives

• Bonuses

• Local salary rate

What is the minimum wage?

• The minimum amount of money that employees are protected by the FLSA or state law can be paid by their employers.

• Money is calculated weekly, monthly, or yearly rather than hourly.

• Money paid or received for work performed in a one-hour time period.

• Money paid or received for completing a certain amount (a piece) of work.

The minimum salary necessary for a person to achieve a subjectively defined standard of living. What type of salary is this?

• Standard salary

• Minimum salary

• Living wage

• Maximum salary

Definition of 'Salary'

• Money calculated on a weekly, monthly, or yearly basis rather than hourly.

• Money paid or received for work performed over a one-hour period.

• Money paid or received for completing a certain amount (a piece) of work.

• Financial reward paid to employees for achieving predetermined performance goals.