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WGU C202 Managing Human Capital All Exam Study Questions and Answers Graded A 2024 $16.49   Add to cart

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WGU C202 Managing Human Capital All Exam Study Questions and Answers Graded A 2024

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Direct financial compensation - compensation received in the form of salary, wages, commissions, stock options or bonuses indirect financial compensation - all the tangible and financially valued rewards that are not included in direct compensation including free meals, vacation time and health ...

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  • September 3, 2024
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WGU C202 Managing Human Capital All exam




WGU C202 Managing Human Capital All Exam Study
Questions and Answers Graded A 2024

Direct financial compensation - compensation received in the form of salary, wages,
commissions, stock options or bonuses


indirect financial compensation - all the tangible and financially valued rewards that are
not included in direct compensation including free meals, vacation time and health
insurance


nonfinancial compensation - rewards and incentives given to employees that aren't
financial in nature


base pay - reflects the size and scope of an employee's responsibilities


severance pay - give to employees upon termination of their employment


fixed pay - pays employees a set amount regardless of performance


variable pay - bases some or all of an employee's compensation on employee, team, or
organizational


pay structure - the array of pay rates for different work or skills within a single
organization


pay mix - the relative emphasis give to different compensation components




WGU C202 Managing Human Capital All exam

, WGU C202 Managing Human Capital All exam



pay leader - organization with a compensation policy of giving employees greater
rewards than competitors


pay follower - an organization that pays its front-line employees as little as possible


resource dependence theory - proposition that organizational decisions are influenced
by both internal and external agents who control critical resources


wage differentials - differences in wage between various workers, groups of workers, or
workers within a career field


labor market - all of the potential employees located within a geographic area from
which the organization might be able to hire


cost of living allowances - clauses in union contacts that automatically increase wages
base on the U.S. Bureau of Labor Statistics' cost of living index


market pricing - uses external sources of information about how others are
compensating a certain position to assign value to a company's similar job


Compensation surveys - surveys of other organizations conducted to learn what they
are paying for specific jobs or job classes


benchmark jobs - jobs that tend to exist across departments and across diverse
organizations allowing them to be used as a basis for compensation comparisons




WGU C202 Managing Human Capital All exam

, WGU C202 Managing Human Capital All exam

job evaluation - a systematic process that uses expert judgement to assess differences
in value between jobs


ranking methos - subjectively compares jobs to each other based on their overall worth
to the organization


job classification method - subjectively classifies jobs into an exiting hierarchy of grades
and categories


point factor method - uses a set of compensable factors to determine a job's value. skill,
resp, effort, working cond.


compensable factor - any characteristic used to provide a basis for judging a job's value


skills, responsibilities, effort, working conditions - Four categories of compensable
factors


Hay Group Guide Chart - Profile Method - a point-factor system is used to produce both
a profile and a point score for each position.
know how
problem solving
accountability
working conditions


Know-how, problem solving, accountability, working conditions - Hay Group Method
based on four main factors




WGU C202 Managing Human Capital All exam

, WGU C202 Managing Human Capital All exam

Position Analysis Questionnaire - a structured job evaluation questionnaire that is
statistically analyzed to calculate pay rates based on how the labor market is valuing
worker characteristics. a copyrighted, standardized, structured job analysis
questionnaire. 6 sections covering 187 job elements.


job pricing - the generation of salary structures and pay levels for each job based on the
job evaluation data


single rate system, pay grades and broadbanding - Three most common job pricing
systems


pay grade (pay scale) - the range of possible pay for a group of jobs


broadbanding - using very wide pay grades to increase pay flexibility


internal equity - when employees perceive their pay to be fair relative to the pay of other
jobs in the organization


employee equity - the perceived fairness of the relative pay between employees
performing similar jobs for the same organization


external equity - when an organization's employees believe that their pay is fair when
compared to what other employers pay their employees who perform similar jobs


comparable worth - if two jobs have equal difficulty requirements, the pay should be the
same, regardless of who fills them




WGU C202 Managing Human Capital All exam

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