Exam 1: A Road Map to Effective Compensation

A) The reward system is the blueprint for creating the reward strategy.
B) Intrinsic awards alone will not motivate the needed behaviour.
C) Determining the mix of rewards to be provided is an easy process.
D) Various combinations of intrinsic and extrinsic rewards need to be considered for developing the optimal reward strategy.

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A) base salary
B) performance pay
C) employee benefits
D) flexible work schedules and some element of job autonomy

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Now that we have some basic ideas on com...

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A) employee benefits
B) employment security
C) promotion criteria
D) job enrichment

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A) It is realistic to expect that a reward system will achieve all eight of the effectiveness criteria.
B) Continuing evaluation of the effectiveness of the reward and compensation system is crucial for most organizations.
C) Successful organizations all have equitable reward systems.
D) Most firms have found the right answers to the compensation puzzle.

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A) developing new job descriptions and performance evaluation criteria
B) implementing,managing,and evaluating the compensation system as circumstances change
C) securing senior management approval and implementing the compensation system
D) determining the compensation mix to be used in the compensation system

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A) interesting and meaningful work
B) pay for performance based on the number of units produced per hour
C) being able to see the company's product being used by a satisfied customer
D) work that allows for enhanced personal development

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B

A) All organizations need a human resources department to deal with compensation issues.
B) The larger the firm,the greater the need for compensation specialists.
C) In smaller organizations,compensation consulting firms are responsible for compensation strategy.
D) Within a large firm,all managers require extensive knowledge of compensation.

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A) the means through which performance bonuses are paid
B) the mix of rewards provided to organization members
C) the means for recognizing outstanding achievement
D) the means for identifying the key contextual variables for an organization

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A) performance pay
B) flexible work schedules
C) positive organizational culture
D) work/life programs

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A) They focus on factors inherent in the work itself-the job content.
B) They satisfy higher-order human needs.
C) They include monetary and nonmonetary rewards and come from the job context.
D) They involve skill variety,task identity,task significance,autonomy,and feedback.

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C

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Extrinsic rewards satisfy our basic need...

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A) safety needs
B) self-actualization needs
C) respect and self-esteem needs
D) physiological needs

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A) providing a pension option and offering a retirement planning service
B) introducing pay-for-performance plans
C) trying to enrich the jobs to make them more interesting
D) offering dental and medical coverage

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C

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A) Canadian firms spend 40 to 70 percent of their capital budgets on compensation.
B) Properly designed compensation systems usually promote unproductive behaviour.
C) Reward systems should be static and rarely reviewed.
D) Canadian firms spend 40 to 70 percent of their operating budgets on compensation.

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