WorksheetsEZDV Lecture Ten
Total questions: 15
Worksheet time: 12mins
What is the definition of remuneration?
Financial and non-financial rewards provided by an employer for the time, skills, and effort made available by the employee
Expressed appreciation by one person to another for their behaviors, activities, or impact
The comparison of rewards across similar jobs in the labor market
The fairness of what is paid for one job in the organization compared to that of other jobs
What is the difference between remuneration and recognition?
Remuneration is financial and non-financial rewards, while recognition is expressed appreciation
Remuneration is expressed appreciation, while recognition is financial and non-financial rewards
Remuneration is the comparison of rewards, while recognition is the fairness of pay
Remuneration is the fairness of pay, while recognition is the comparison of rewards
What are the objectives of reward and recognition?
Attract employees, retain employees, motivate employees, comply with legal requirements, maintain cost effectiveness and efficiency, provide for affordability, flexibility, and administrative efficiency, maintain equity between employees
Attract employees, retain employees, motivate employees, comply with legal requirements, maintain cost effectiveness and efficiency, provide for affordability, flexibility, and administrative efficiency, maintain equity within the organization
Attract employees, retain employees, motivate employees, comply with legal requirements, maintain cost effectiveness and efficiency, provide for affordability, flexibility, and administrative efficiency, maintain equity in the labor market
Attract employees, retain employees, motivate employees, comply with legal requirements, maintain cost effectiveness and efficiency, provide for affordability, flexibility, and administrative efficiency, maintain equity in the industry
How does the fourth industrial revolution impact remuneration?
Organizations will have to adopt a new approach to rewards
Organizations will have to reduce remuneration due to economic downturn
Organizations will have to align remuneration with market rates
Organizations will have to enhance transparency in pay decisions
A company’s main goal is to be successful and thus profitable. What is the relationship between motivation, rewards, productivity and profitability?
No relationship.
Rewards boosts motivation, which will increase productivity and hence profitability.
Although rewards may boost motivation it is not related to the business’ profitability.
Motivation and rewards boosts productivity but not profitability
What could happen in terms of productivity, if employees are not motivated or rewarded?
The company will be successful.
The company’s clientele will significantly increase.
Staff will lack interest in their work and there will be a visible decrease in morale.
Nothing would happen.
1. What are employee reward programs?
Employee reward programs refer to strategies set up by a company to reward performance and motivate employees on individual and/or group levels.
Employee reward programs refer to the remuneration (salary) that is given to employees on a monthly basis.
Employee reward programs refer to the strategies that are set up by a company to motivate employees, despite their levels of performance.
Employee reward programs refer to the strategies that are set up by a company for employees to compete against each other.
Employee recognition is an example of a reward strategy that can be employed by managers. This strategy is geared towards rewarding employees by showing them appreciation for a job well done, this can take the form of :
Public recognition
Private recognition
Monetary rewards
Promotions
All of the answers are correct
1. Why is an understanding of motivational theories important to managers?
Motivational theories help managers to understand the factors that lead higher levels of employee performance in an organization.
Motivational theories help managers to better understand how to create a structure of fear and punishment in order to make employees perform better.
Motivational theories help managers to better understand how to best manipulate their employees to get them to do what they want them to do.
Motivational theories are not necessary, employees are expected to execute their tasks as outlined in their job description.
Non financial incentive reward system includes:
Profit sharing
Salary increases
Bonuses
Letter of appreciation, performance reward, oversea holidays trip, sponsorship to conferences and seminars, etc.
What is the purpose of introducing remuneration packages?
To attract employees and to retain best performers.
To become the most popular and glamour employers.
To encourage job hop among employees.
To increase customer satisfaction.
Remuneration packages can be defined as _________________________.
the compensation package that consists of basic pay only.
the compensation package that consists of several elements, usually a combination of basic pay, benefits (indirect & non-cash compensation paid to an employee such as health insurance, life insurance, medical plan, paid vacation, pension) as well as incentives.
the compensation package that consists of solely benefits only (indirect & non-cash compensation paid to an employee such as health insurance, life insurance, medical plan, paid vacation, pension).
the compensation package that unfollow the Employment Act.
Rewards that are controlled and distributed
directly by the organization and a tangible
rewards given to employees by managers, such as
pay raises, bonuses, and benefits.
Extrinsic Reward
Intrinsic Reward
Intangible Reward
tangible reward
Job satisfaction is?
A reward one gets from work done.
A feeling of fulfillment or enjoyment that a person derives from their job
A lasting impression left on someone.
Which of the following is a key component of remuneration?
Workplace attire
Compensation, benefits, and rewards
Employee behavior
Office furniture
