Strategic Compensation in Canada 5th Edition By Richard Long – Test Bank
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Strategic Compensation in Canada 5th Edition By Richard Long – Test Bank
Chapter 4: Components of Compensation Strategy
TRUE/FALSE
1. The two key questions that must be addressed in designing any compensation system are: a) What role should each of the three compensation components play in the compensation mix? and b) What total level of compensation should be provided?
ANS: T PTS: 1 REF: 108 OBJ: 1
2. An advantage of base pay is that it directly links pay with output or performance.
ANS: F PTS: 1 REF: 110 OBJ: 1
3. Generally, research supports the notion that employees prefer compensation strategies that have performance pay as the key compensation mechanism.
ANS: F PTS: 1 REF: 113 OBJ: 2
4.The main types of individual performance pay are piece rates, commissions, merit pay, and goal-sharing plans.
ANS: F PTS: 1 REF: 113 OBJ: 2
5.Performance pay plans are difficult to administer and have a high discontinuation rate.
ANS: T PTS: 1 REF: 113–114 OBJ: 2
6.An advantage of indirect pay is that benefits receive more favourable income tax treatment than direct pay.
ANS: T PTS: 1 REF: 115–116 OBJ: 3
7.Firms using a human relations strategy tend to embrace indirect pay, often making indirect pay a cornerstone of their compensation strategy.
ANS: T PTS: 1 REF: 119 OBJ: 3
8.One major advantage of job evaluation programs is that they require the use of comprehensive job descriptions.
ANS: F PTS: 1 REF: 125 OBJ: 6
9.Pay for knowledge systems are beneficial for organizations that require great task flexibility from their labour force.
ANS: T PTS: 1 REF: 127 OBJ: 7
10.Competency-based systems have been proven valid, given the wide body of research associated with this compensation system.
ANS: F PTS: 1 REF: 127 OBJ: 7
MULTIPLE CHOICE
1.Which of the following steps is NOT considered part of formulating the compensation strategy?
|
a. |
determining actual dollar values for jobs and individual employees |
|
b. |
determining the total level of compensation to provide |
|
c. |
determining how each of the mix choices should be structured |
|
d. |
determining the mix of compensation components |
ANS: A PTS: 1 REF: 108 OBJ: 1
BLM: Higher Order: Understand
2.A particular company wants to make sure employees feel they are appreciated, while at the same time ensuring key employees have a sense of loyalty towards the company. Which of the following systems does this company most likely use?
|
a. |
benefits |
|
b. |
performance pay |
|
c. |
indirect pay |
|
d. |
base pay |
ANS: D PTS: 1 REF: 112 OBJ: 1
BLM:Higher Order: Apply
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