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Competitive Advantage correct answers __________________ describes a company's success when the company acquires or develops capabilities that facilitate outperfoming the competition. Compensation correct answers _________________ represents both the intrinsic and extrinisc rewards employees recieve for performing their jobs and for their membership as employees. Total Compensation correct answers _________________ is a system represented by the combination of both the intrinsic and extri...

Seniority Pay and Longevity Pay Systems correct answers These systems reward employees with periodic additions to base pay according to employees' length of service in performing their jobs. These pay plans assume that: 1. employees become more valuable to companies with time 2. valued employees will leave if they do not have a clear idea that their salaries will progress over time. This concept is also known as the human capital theory. correct answers What are the two assumptions made...

Social Security Act of 1935 (Title IX) correct answers Provided temporary income to workers who became unemployed through no fault of their own. Workers' Compensation correct answers programs granted income to workers who were unable to work because of injuries sustained on the job. Fair Labor Standards Act of 1938 (FLSA) correct answers The FLSA addresses major abuses that intensified during the Great Depression and the transition from agricultural to industrial enterprises. These includ...

systems reward employees with permanent additions to base pay periodically, according to employees' lelngth of service performing their jobs. correct answers seniority pay systems reward with permanent additions to base pay those employees who have reached pay grade maximums and who are not likely to move into higher pay grades correct answers longevity pay states that employees' knowledge and skills generate productive capital known as human capital; employees can develop knowledge and ...

Today, which industry employs the most workers? correct answers service Labor markets do the following thing well: correct answers determine pay levels for different industries The quantity of the labor supply is called: correct answers labor force What kinds of employees are in less demand today than in the past? correct answers blue-collar workers A good definition of work is: correct answers sustained activity directed toward accomplishing goals for pay The growth of the servic...

Eight goals of a reward/compensation system correct answers 1. Promote achievement of organization goals. 2. Fit with organization strategy and structure. 3. Attract and retain qualified individuals. 4. Promote desired employee behaviour. 5. Be seen as equitable. 6. Comply with the law. 7. Be within financial means. 8. Achieve above goals cost effectively. Intrinsic rewards correct answers Factors that satisfy basic needs for self-esteem, achievement, growth and developme...

Competitive advantage correct answers describes a company's success when the company acquires or develops capabilities that facilitate outperforming the competition. Intrinsic compensation correct answers reflects employees' psychological mind-sets that result from performing their jobs, for example, experiencing a great feeling from the belief that one's work matters in the lives of others. Extrinsic compensation correct answers includes both monetary and nonmonetary rewards. core c...

Identify the factors that influence the formulation of compensation strategies. - The number of business units owned by a company - Customer demands - Social and political context - A company's culture and values - Employee and union preferences correct answers - A company's culture and values - Social and Political context - Employee and union preferences According to the advocates of the strategic approach, what makes a pay strategy competitive? A. How it is managed B. How simpl...

D correct answers _____ refers to the design and implementation of compensation systems to reinforce the objectives of both HR strategies and competitive business strategies. A. Intrinsic compensation B. Extrinsic compensation C. Strategic analysis D. Strategic compensation B correct answers Protection programs are what type of compensation benefits? A. monetary B. non-monetary rewards C. internal D. external A correct answers Which of the following is an example of a core comp...

Supporting "promotional growth opportunities" is an example of correct answers Internal Alignment. "Putting some skin in the game" refers to correct answers below market base pay with stock ownership. A compensation system that pays employees such that "some skin is in the game" means that correct answers a portion of employee pay is at risk At the corporate level, a strategic compensation perspective addresses the question, correct answers "What business should we be in?" "...