Exam (elaborations)
2024 APHR COMPENSATION AND BENEFITS (14%) TEST STUDY GUIDE EXAM WITH CORRECT ANSWERS
- Course
- Institution
2024 APHR COMPENSATION AND BENEFITS (14%) TEST STUDY GUIDE EXAM WITH CORRECT ANSWERS
[Show more]
Content preview
2024 APHR COMPENSATION ANDBENEFITS (14%) TEST STUDY
GUIDE EXAM WITH CORRECT
ANSWERS
Total Rewards / Returns - CORRECT ANSWERS-All returns to an employee,
including financial compensation, benefits, oportunities for social interaccion,
security, status and recognition, work variety, appropriate workload,
importance of work, authority/control/autonomy, advancement opportunities,
feedback, hazard-free working conditions, and opportunities for personal and
professional development. An effective compensation system will utilize
many of these returns
Employee benefits - CORRECT ANSWERS-Compensation in forms other than
cash. Benefits contribute to attracting, retaining, and motivating employees.
Pay for Organizational performance - CORRECT ANSWERS-Incentive pay tied
to organizational performance
Types of pay for Organizational Performance - CORRECT ANSWERS--Profit
sharing
- Stock Options
- Employee Stock Ownership Plans ( ESOPs)
Profit Sharing - CORRECT ANSWERS-Incentive pay in which payments are a
percentage of the organization's profits and do not become a part of the
employees'
Base salary
Stock Ownership - CORRECT ANSWERS-A stock ownership plan makes
employees part owners of the organization.
Stock Options - CORRECT ANSWERS-Rights to by a certain number of shares
of stock at a specified price purchasing the stock is called "exercising the
option"
Employee Stock Ownership Plan ( ESOP) - CORRECT ANSWERS-An
arrangement in which the organization distributes shares of stock to all its
employees by placing it in a trust managed on the employees behalf
, Balanced Scorecard - CORRECT ANSWERS-A combination of performance
measures directed toward the company's long-and-short term goals and
used as the basis for awarding incentive pay
Processes that make incentives work - CORRECT ANSWERS--participation in
decisions- employees have hands-on knowledge about the kinds of behaviors
that can help the organization perform well
-communication-
Payroll - CORRECT ANSWERS-Payroll is the process by which employers pay
an employee for the work they have done. A
Employee benefits required by law - CORRECT ANSWERS-Social security,
Unemployment insurance, Worker's Compensation Insurance, Family and
Medical Leave, Health Care
Social security - CORRECT ANSWERS-Is the Federal Old age, Survivors,
Disability, and Health Insurance (OASDHI) program, which combines old age
( retirement) insurance, survivors insurance, disability insurance, hospital
insurance ( Medicare Part A) and supplementary medical insurance
( Medicare Part B) for the elderly
Unemployment Insurance - CORRECT ANSWERS-A federal mandated program
to minimize the hardships of unemployment through payments to
unemployed workers, help in finding new jobs, and incentives to stabilize
employment
Experience Rating - CORRECT ANSWERS-The number of employees a
company has laid off in the past and the cost of providing them with
unemployment benefits
The size of the unemployment insurance tax imposed on each employer
depends on the employer's experience rating
Conditions workers must meet to receive unemployment insurance benefits -
CORRECT ANSWERS-1- demonstrating they have been employed ( often 52
weeks or four quarters of work at a minimum level of pay )
2- They are available for work
3- They are actively seeking work ( includes registering at the local
unemployment office)
4- They were not discharge for cause ( such as willful misconduct ), did not
quit voluntarily, and are not out of work because of a labor dispute ( such as
a union member on strike)
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Elitaa. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
73243 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now