Compa ratio - Study guides, Class notes & Summaries

SHRM CP FINAL EXAM STUDY QUESTIONS AND ANSWERS. Career Planning - CORRECT ANSWER Actions & activities that individuals perform in order to give direction to their work lives. Brain drain - CORRECT ANSWER Exit of educated & skilled citizens from emerging & developing countries for better paying jobs in developed countries. Auditory learners - CORRECT ANSWER People who learn best by relying on their sense of hearing. Andragogy - CORRECT ANSWER Study of how adults learn. Cost-of-...

Job and pay form-specific reward strategies allows for: Maximum customization as the organization positions its pay relative to the market differently for different jobs and pay forms As a general rule, base pay strategies rarely lead the market by more than 10% The benefits of incorporating individual-based pay into the total rewards system Allows the organization to build human capital What represents the most straightforward way to compare company or individual pay rat...

Career Planning - Actions & activities that individuals perform in order to give direction to their work lives. Brain drain - Exit of educated & skilled citizens from emerging & developing countries for better paying jobs in developed countries. Auditory learners - People who learn best by relying on their sense of hearing. Andragogy - Study of how adults learn. Cost-of-living adjustment (COLA) - Pay adjustment given to eligible employees regardless of performance or organizational pro...

PHR/SPHR Key Formulas Exam 25 Questions with Verified Answers Cost of Hiring - CORRECT ANSWER Total costs / Number of new hires Employee Absence Rate - CORRECT ANSWER Number of days in month / Average number of employees during month x Number of days Human Capital Return on Investment - CORRECT ANSWER Employment-related expenses / Revenue - Non-employment expenses Human Capital Value Added - CORRECT ANSWER Revenue - Non-employment expenses / Number of full time employees Labor Pro...

Pay structure - ANSWER-They way in which an organization apples pay rates to different jobs, skills or competencies Reward system - ANSWER-The policies, procedures, and practices used by an organization to determine the amount and types of returns individuals, teams, and the organization receive in exchange for their membership and contributions Total compensation - ANSWER-Package of compensation and benefits that employees receive Relational returns - ANSWER-NOnmonetary incentives and ...

WGU C236 Compensation and Benefits Questions and Answers Already Passed Absolute Level The reward can be defined. Paying an employee $50,000 salary per year, for example, is a defining absolute level. Administrative Pertaining to the activities of running an organization or a business. Anchored Rating Scale Uses examples or definitions of typical behaviors to define each point along the scale. Autonomy Giving employees discretion in choosing what to do and how to do it. Bad Data Challenge Ex...

Job Evaluation - ANSWERSAn administrative procedure for measuring the relative internal worth of the organization's jobs. Pay Ranges - ANSWERSA set of possible pay rates defined by a minimum, maximum, and midpoint of pay for employees holding a particular job or a job within a particular pay grade. Compa-Ratio - ANSWERSThe ratio of average pay to the midpoint of the pay range. -If the average equals the midpoint, CR is 1. -If CR is greater than 1, the average pay is above the midpoint...

Absolute Level - The reward can be defined. Paying an employee $50,000 salary per year is an example. Administrative - Pertaining to the activities of running an organization or a business. Anchored Rating Scale - Uses examples or definitions of typical behaviors to define each point along the scale. Autonomy - Giving employees discretion in choosing what to do and how to do it. Bad Data Challenge - Exists because the data a company obtains about market rates may not be an accurate r...

SHRM CP EXAM 2023 Career Planning - ANS-Actions & activities that individuals perform in order to give direction to their work lives. Brain drain - ANS-Exit of educated & skilled citizens from emerging & developing countries for better paying jobs in developed countries. Auditory learners - ANS-People who learn best by relying on their sense of hearing. Andragogy - ANS-Study of how adults learn. Cost-of-living adjustment (COLA) - ANS-Pay adjustment given to eligible employees regardl...

SHRM CP EXAM with 100% Correct Answers 2023/2024 UPDATESHRM CP EXAM with 100% Correct Answers 2023/2024 UPDATE Career Planning - Correct answer-Actions & activities that individuals perform in order to give direction to their work lives. Brain drain - Correct answer-Exit of educated & skilled citizens from emerging & developing countries for better paying jobs in developed countries. Auditory learners - Correct answer-People who learn best by relying on their sense of hearing....