COMPENSATION BENEFITS EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED GRADED A+
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COMPENSATION BENEFITS
COMPENSATION BENEFITS EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED GRADED A+
Identify a similarity in the compensation strategies adopted by Google and Microsoft
A strong emphasis on stock-related compensation
Match the companies (in the left column) with their strategies for internal align...
COMPENSATION BENEFITS EXAM QUESTIONS WITH
COMPLETE SOLUTIONS VERIFIED GRADED A+
Identify a similarity in the compensation strategies adopted by Google and
Microsoft
A strong emphasis on stock-related compensation
Match the companies (in the left column) with their strategies for internal
alignment (in the right column).
A) Google
B) Nucor
C) Merrill Lynch
Google: minimizes hierarchy and stresses collaboration
Nucor: Provides several opportunities but no defined career paths
Merrill Lynch: Sizes jobs based on knowledge/skills, complexity, business impact and
strategic value
True or false: Different business units within the same company can have
different compensation strategies.
True.
What are the objectives of the compensation strategy followed at Google? (Check
all that apply.)
Commitment to cost Containment
Emphasis on Innovation
Recognition of Contributions
Which of the following is true of Nucor Steel's corporate mission?
It believes in achieving success by working together.
___________ refers to the fundamental directions that an organization chooses.
Strategy
What are the pay objectives followed at Merrill Lynch?
,To Hire, Motivate and Retain the best Talent
Identify the true statements about organizations' business and pay strategies.
(Check all that apply.)
A company's pay systems should align with it's business strategy
Pay Systems should change according to changes in business strategies.
Unlike Microsoft's compensation strategy, SAS Institute's approach to
compensation emphasizes _____.
Work/Life Programs
According to Boxall and Purcell, the _________ __________ is an increasingly
common "very basic theory of performance" that bases performance on ability,
motivation, and opportunity.
AMO Theory
The business units at United Technologies follow different compensation
strategies because _____.
They face varied competitive conditions
How does Whole Foods make its compensation strategies competitive in the
external market?
It provides health insurance for all full-time employees.
Identify a true statement about the compensation strategy at Google.
It offers its employees significant stock programs.
True or false: The development of a total compensation strategy should not
involve trial and error.
False.
A(n) __________ __________ focuses on those compensation choices that help
the organization gain and sustain competitive advantage.
Strategic Perspective
To deal effectively with turbulent competitive dynamics, an organization should
first focus on _____.
The Factors that are of importance to the business environment in the present and in
the future.
,The _______-______ business strategy places emphasis on pleasing customers
and bases employee pay on how well they do this.
Customer-Focused
Since governments are major stakeholders in determining compensation, _____
can be included in a compensation strategy.
Lobbying to influence laws and regulations
Compensation strategy, HR strategy, and business strategy ultimately seek to
_____, relative to competitors.
Decrease costs or increase revenues.
In the context of compensation, which of the following is a way to better satisfy
employees' individual needs and preferences?
Offering More Choice
True or false: Not all organizations that pay people have a compensation strategy.
False;
All organizations that pay people have a compensation strategy. Some may have
written compensation strategies, while others may be unaware that they have a
compensation strategy.
Arrange the steps involved in developing a total compensation strategy in the
order in which they are conducted.
1) Assessing Total Compensation Implications
2) Map A Total Compensation Strategy
3) Implement Total Compensation Strategy
4) Reassess Total Compensation Strategy
Identify the disadvantages of offering employees unlimited choice in terms of
compensation. (Whole Foods Example)
It may confuse employees
It would be difficult to design and manage
It would not be approved by US Internal Revenue Service (because health benefits are
not viewed as income)
What is the first step in formulating a total compensation strategy?
Understanding Business Strategy and Competitive Dynamics
, Identify the union preferences that influence compensation strategies.
The desire for different forms of pay
The worry about job security
Identify the factors in the social and political context that influence compensation
strategies. (Check all that apply.)
Demographical changes in the workforce
Legal Requirements
A crucial challenge in the design of next-generation pay systems is _____.
How to better satisfy individual needs and preferences.
Identify the true statements about a company's strategic compensation map.
It provides a visual references of the company's compensation system
It can elucidate the message that the company is trying to deliver with its compensation
system
Identify the true statements about Whole Foods's business objectives. (Check all
that apply.)
To hire and try to retain employees who are going to help the company make money
To Take extraordinary measures to satisfy and delight customers
Match the companies (in the left column) with the flexible benefits they offer their
employees (in the right column).
Whole Foods: Employees vote on benefits of their choice
Netflix: Employees can select a mix of stock options and salary
General Mills: Employees are allowed to exchange several weeks salary for stock
rewards
Match the companies (in the left column) with the pay brands reflected by their
compensation strategy maps (in the right column).
Microsoft: Competitiveness, individual accomplishments, and performance-based
returns are emphasized.
SAS: Competitive market position, companywide success sharing, and egalitarianism
are the distinctive features.
True or false: Pay strategies need to take into account the nature of the union-
management relationship.
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