WGU C202 Managing Human Capital All
testbank OBJECTIVE ASSESSMENT
EXAM QUESTIONS AND VERIFIED
ANSWERS () / A+ GRADE
Direct financial compensation - ✔✔ANSW✔✔..compensation received in the form of
salary, wages, commissions, stock options or bonuses
indirect financial compensation - ✔✔ANSW✔✔..all the tangible and financially valued
rewards that are not included in direct compensation including free meals, vacation time
and health insurance
nonfinancial compensation - ✔✔ANSW✔✔..rewards and incentives given to employees
that aren't financial in nature
base pay - ✔✔ANSW✔✔..reflects the size and scope of an employee's responsibilities
severance pay - ✔✔ANSW✔✔..give to employees upon termination of their employment
fixed pay - ✔✔ANSW✔✔..pays employees a set amount regardless of performance
variable pay - ✔✔ANSW✔✔..bases some or all of an employee's compensation on
employee, team, or organizational
socialization - ✔✔ANSW✔✔..a long-term process of planned and unplanned, formal
and informal activities and experiences through which an individual acquires the
attitudes, behaviors and knowledge needed to successfully participate as an
organizational member
Anticipatory, Encounter, Settling In - ✔✔ANSW✔✔..Three phases of Socialization
collective socialization - ✔✔ANSW✔✔..newcomers go through a common set of
experiences as a group
,individual socialization - ✔✔ANSW✔✔..newcomers are socialized individually as in an
apprenticeship
formal socialization - ✔✔ANSW✔✔..structured socialization using specifically designed
activities and materials awayfrom the work setting
informal socialization - ✔✔ANSW✔✔..unstructured, on-the-job socialization done by
coworkers
sequential socialization - ✔✔ANSW✔✔..the degree to which socialization follows a
specific sequence of steps
fixed socialization - ✔✔ANSW✔✔..new hires are informed in advance when their
probationary status will end
variable socialization - ✔✔ANSW✔✔..employees do not know when to expect to pass to
a different status level and the timeline may be different across employees
tournament socialization - ✔✔ANSW✔✔..each stage of socialization is an elimination
round and a new hire is out of the organization if he or she fails to pass
contest socialization - ✔✔ANSW✔✔..each socialization stage is a contest in which one
builds a performance record
serial socialization - ✔✔ANSW✔✔..accessible and supportive organizational members
serve as role models and mentors
disjunctive socialization - ✔✔ANSW✔✔..newcomers are left alone to develop their own
interpretations of the organization and situations they observe
investiture socialization - ✔✔ANSW✔✔..builds newcomers' self-confidence and reflects
senior employees' valuing of newcomers' knowledge and personal characteristics
divestiture socialization - ✔✔ANSW✔✔..tries to deny and strip away certain personal
characteristics
learning agility - ✔✔ANSW✔✔..the ability to learn from experiences and to apply that
knowledge to new and different situations
motivation to transfer - ✔✔ANSW✔✔..intention and willingness to transfer any
knowledge acquired in a training or development activity back to the work context
,pay structure - ✔✔ANSW✔✔..the array of pay rates for different work or skills within a
single organization
pay mix - ✔✔ANSW✔✔..the relative emphasis give to different compensation
components
pay leader - ✔✔ANSW✔✔..organization with a compensation policy of giving
employees greater rewards than competitors
pay follower - ✔✔ANSW✔✔..an organization that pays its front-line employees as little
as possible
resource dependence theory - ✔✔ANSW✔✔..proposition that organizational decisions
are influenced by both internal and external agents who control critical resources
wage differentials - ✔✔ANSW✔✔..differences in wage between various workers, groups
of workers, or workers within a career field
labor market - ✔✔ANSW✔✔..all of the potential employees located within a geographic
area from which the organization might be able to hire
cost of living allowances - ✔✔ANSW✔✔..clauses in union contacts that automatically
increase wages base on the U.S. Bureau of Labor Statistics' cost of living index
market pricing - ✔✔ANSW✔✔..uses external sources of information about how others
are compensating a certain position to assign value to a company's similar job
Compensation surveys - ✔✔ANSW✔✔..surveys of other organizations conducted to
learn what they are paying for specific jobs or job classes
benchmark jobs - ✔✔ANSW✔✔..jobs that tend to exist across departments and across
diverse organizations allowing them to be used as a basis for compensation
comparisons
job evaluation - ✔✔ANSW✔✔..a systematic process that uses expert judgement to
assess differences in value between jobs
ranking methos - ✔✔ANSW✔✔..subjectively compares jobs to each other based on
their overall worth to the organization
job classification method - ✔✔ANSW✔✔..subjectively classifies jobs into an exiting
hierarchy of grades and categories
, point factor method - ✔✔ANSW✔✔..uses a set of compensable factors to determine a
job's value. skill, resp, effort, working cond.
compensable factor - ✔✔ANSW✔✔..any characteristic used to provide a basis for
judging a job's value
skills, responsibilities, effort, working conditions - ✔✔ANSW✔✔..Four categories of
compensable factors
Hay Group Guide Chart - Profile Method - ✔✔ANSW✔✔..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 - ✔✔ANSW✔✔..Hay
Group Method based on four main factors
Position Analysis Questionnaire - ✔✔ANSW✔✔..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 - ✔✔ANSW✔✔..the generation of salary structures and pay levels for each
job based on the job evaluation data
single rate system, pay grades and broadbanding - ✔✔ANSW✔✔..Three most common
job pricing systems
pay grade (pay scale) - ✔✔ANSW✔✔..the range of possible pay for a group of jobs
broadbanding - ✔✔ANSW✔✔..using very wide pay grades to increase pay flexibility
internal equity - ✔✔ANSW✔✔..when employees perceive their pay to be fair relative to
the pay of other jobs in the organization
employee equity - ✔✔ANSW✔✔..the perceived fairness of the relative pay between
employees performing similar jobs for the same organization
external equity - ✔✔ANSW✔✔..when an organization's employees believe that their pay
is fair when compared to what other employers pay their employees who perform similar
jobs
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