Match the correct term with the corresponding definition.
A.
This refers to the degree of secrecy that exists around pay issues.
In some states, it’s illegal to prohibit employees from disclosing their pay rates or amounts of increases.
B.
This is how fair the internal process and procedures in determining pay scales are perceived to be.
Considerations include how pay rates are determined, how bonuses are distributed, and who is responsible for making those decisions.
C.
This relates to how closely pay reflects actual performance.
If, for example, an employee with a high rate of productivity is paid at the same hourly rate as an employee with a lower level of productivity, the perception of the pay system will be that it’s unfair.
1.Procedural Justice
2.
Distributive Justice
According to Chapter 6 from the text what is a Compensation Strategy?
A.
A compensation strategy is a means to develop and a retention program within the organization.
B.A compensation strategy identifies the method of savings plan for employees and managers within the organization
C.A compensation strategy is used to determine how the resources available for rewards programs can be used to best advantage in attracting, motivating, and retaining employees.
D.A compensation strategy is defined as a means to assist employees with obtaining all the required education and training needed to be promoted to higher positions.
HR professionals work closely with _________and _____________to build the rewards budget for the organization.
According to the text what are salary surveys used for?
A.
Salary surveys are particularly helpful in forecasting changes to competing organizations employee salaries.
B.
Salary surveys are particularly helpful in forecasting changes to pensions and retirement programs.
C.Salary surveys are particularly helpful in forecasting changes to base salaries and salary structure adjustments.
D.
Salary surveys are particularly helpful in forecasting changes to retention and recruiting efforts.
The SEC requires public companies to fully disclose compensation for the top five executives.
In what year were new rules issued to provide consistency for investors to use when reviewing and comparing proxy statements?
A.
2016
B.
2009
C.
2010
D.2007
According to the text the term fiduciary responsibility refers to what?
A.
A dedicated retirement plan.
B.
A responsibility that defines a contribution plan.
C.
A responsibility that requires confidence or trust.
D.
A responsibility that defines a benefit plan.
According to the text, what makes up the Labor Market?
A.
The labor market is made up of any sources from which an organization recruits new employees.
Feedback: Correct!
B.
The labor market is made up of specific sources from which an organization recruits new employees.
C.The labor market is made up of specific cultural demographics from which an organization recruits new employees.
D.
The labor market is made up of local sources from which an organization recruits new employees.
Because there are more businesses in urban areas competing for candidates, urban environments may be more competitive, leading to an _________ in the cost of labor.
When an organization wants to make changes to compensation or benefit programs, it may
want to find out how the IRS will view the changes for tax purposes before it makes them.
In some situations, it may be beneficial to request a ___________ from the IRS before the changes are made.
The Davis-Bacon Act was the first federal legislation to regulate minimum wages.
True
False