WGU c236 - Comp and Benefit Study Guide 100% verified

Total Rewards - all forms of pay including cash benefits, tangiable/intangiable etc... what forms of pay are invoved in Total Reward for the Organization? - cash, benefits, intangiables. cash compensation - ____________ influences the employee in an organization HR Generalist impacts compensation by. - making the reward strategy and a business strategy line up. Compensation Manager's responsibility in the compensation plan? - improve compensation systems and beter enable the organization to meet goals. What are the forms of pay and compensation? Define Each? - cash compensation - 1. monetery pay exchanged for work base pay (hourly or salary) 2.. variable pay- bonus or commission Intangiable rewards - meaningful work, positive relationships, work location The outcomes of a ___________________ represent the goals or the criteria by which a rewards system can be judged? - total rewards system _______________ comprises the joint or collective actions of groups of employees ? - Team Performance An objective of a total rewards system is to ___________________ - sustain quality performance in each area over time Define the concept of Organiztaional Citizenship Behaviors (OCB) - value creating activities in which employees engage but its not part of their job. Explain Organizational Performance. - effectiveness at meeting needs, new product, gains in parket, shares, financial gain. How are Cost and Efficiency related to the outcomes of the rewards System - the cost of the rewards system is a large expense that is a huge investment for human capital. Which of the following does organiztainal performance not include? - Developing employees Which of the following laws relates to total rewards? - Civil Rights Laws Which of the following is not considered a guide to fairness in total rewards? - Extreme Business Strategy - the collection of decisions, approaches, and activities that allow an organization to compete and win. What does a Cost Leadership Strategy emphasize? - focuses business priorities on having a lower cost product or service as a high priority. differentiation strategy? - high priority is placed on providing innovative, exceptional, and high-quality products to customers. Niche-Focused Strategy - company uses a small segmented market and competes only in that arena. Hybrid Strategy - has cost-differentiation, and niche-focused approach to business. (takes a multi-faceted focus) critical success factors and how an organization can use the process - capabilities, activities, customer perceptions, market positions that allow an organization to outcompete rivals. Human Resource Strategy? - policies, practices, systems that manage the interface between company and employees, long-term performance