The extent to which an organization's Total Rewards System aligns each employee's
rewards with those received by others in the organization.
o :## Internal Reward Alignment
to internal reward alignment assumes that organizations provide rewards based upon the
job that a person holds.
o :## Jo...
C236 Compensation & Benefits
Questions and Correct Answers
Latest Update, Graded A+
The extent to which an organization's Total Rewards System aligns each employee's
rewards with those received by others in the organization.
o :## Internal Reward Alignment
to internal reward alignment assumes that organizations provide rewards based upon the
job that a person holds.
o :## Job-based approach
assumes that rewards should be based upon the characteristics of the person holding a
job.
o :## Individual-based approach
assumes that rewards should be based upon the performance or results produced by an
employee.
o :## Performance-based approach
A Job Structure is an organized listing of the business's jobs that functionally groups and
hierarchically arranges the jobs for rewards purposes.
o :## Job structure
represents the structure of jobs internally positioned according to their relative value.
o :## Job-value structure
yields a catalogue of job descriptions.
o :## Job analysis
that detail the work done in the organization.
o :## Job descriptions
Job elements or criteria that identify what the organization values for purposes of job
evaluation. Identifying compensable factors is step one in the Point factor Approach.
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o :## Compensable Factor
Sample of jobs that is representative of the type, content and level of jobs in the
organization.
o :## Benchmark Jobs
Tools used to measure compensable factors in step two of the Point Factor Approach.
Rating scales include Graphic Rating Scales, Anchored Rating Scales, and Variable Distance
Scales.
o :## Rating scales
Uses example or definitions of typical behaviors to define each point along the scale.
o :## Anchored rating
Uses examples or definitions of typical behaviors to define each point along the scale.
o :## Scale
Uses different point distances between each level in the scale which allows an
organization to measure compensable factors in a way that takes into account the "natural
breaks" in the factor being measured.
o :## Variable Distance Scale
The process of deciding how important compensable factors are to the organization. It is
Step Three in the Point Factor Approach to job evaluation.
o :## Factor Weighting
The extent to which the system produces relative job values that appear to be accurate
and credible. This concept is applied during Step Four of the Point Factor Approach to job
evaluation.
o :## Face validity
Put jobs into categories that are treated as a group for reward purposes.
o :## Pay grades
The resulting line when regression is used to estimate the line summarizing the
relationship between Job Evaluation Points and a compensation metric.
o :## Value-Reward line
A graphic tool used to display the relationship between two quantiative variables using X
and Y axis.
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o :## Scatterplot
refers to how an organization's Rewards compare to the Rewards offered for comparable
work in other organizations.
o :## External Reward Positioning
External equity refers to employee perceptions regarding the worth of their work
conditions and rewards compared to the work conditions and rewards of individuals
outside the company.
o :## External Equity
Refers to the extent to which a company will pay above, at, or below the market average.
o :## Reward-level Strategy
The extent to which a company will pay above, at, or below the market average, shown in
graphical form.
o :## Reward strategy line
establishing different Reward Level Strategies for different job families or hierarchical
levels.
o :## Job-Specific Reward Level Strategy
Varying pay-level strategies across reward types.
o :## Pay Form-Specific Reward Strategies
Didn't change much overtime
o :## Static
where work is done independently by single employees reporting to a single supervisor
o :## Individualistic Environment
where employees can expect to spend the duration of their careers with a single
organization
o :## Linear Careers
The work employees do changes on a regular basis
o :## Dynamic Role-based
Master01: DO NOT COPY AND PASTE!! August 22, 2024 Latest Update
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