WGU C236 Compensation and Benefits Questions and Correct Answers Latest Update, Graded A+
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Course
WGU C236
Institution
WGU C236
The reward can be defined. Paying an employee $50,000 salary per year is an example.
o :## Absolute Level
Pertaining to the activities of running an organization or a business.
o :## Administrative
Uses examples or definitions of typical behaviors to define each point along the scale.
o :## An...
WGU C236 Compensation and
Benefits Questions and Correct
Answers Latest Update, Graded A+
The reward can be defined. Paying an employee $50,000 salary per year is an example.
o :## Absolute Level
Pertaining to the activities of running an organization or a business.
o :## Administrative
Uses examples or definitions of typical behaviors to define each point along the scale.
o :## Anchored Rating Scale
Giving employees discretion in choosing what to do and how to do it.
o :## Autonomy
Exists because the data a company obtains about market rates may not be an accurate
representation of the market. It is often difficult to fully understand the quality of the
data obtained from various sources, or how best to integrate this information, which adds
error to any reward system based on that data.
o :## Bad Data Challenge
Salary or hourly wages
o :## Base Pay
A selection of primary organizations that exemplify the labor and product/service markets
in which the organization competes.
o :## Benchmark Competitors
Jobs that are representative of the type, content, and level of jobs in the organization.
o :## Benchmark Jobs
A tool that helps organizations better understand how employee benefits may impact their
ability to attract and retain qualified employees.
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o :## Benefit Benchmark Survey
Refers to the level of each benefit type provided as well as the overall company
expenditure.
o :## Benefit Level Strategy
Refers to the particular combination of benefit types that an organization offers.
o :## Benefit Mix Strategy
Help, advice and thoughts from employees of all levels of the organization.
o :## Broad Input
Entails the use of a few broad bands (or grades) to organize work for pay purposes.
o :## Broadbanding
The collection of decisions, approaches, and activities that allow an organization to
compete and win
o :## Business Strategy
Supporting a business' approach to adapting to changes in its environment in order to
compete and win.
o :## Business Strategy Support
When a reward system explicitly attempts to vary rewards based upon capabilities of the
employees. Types include Skill-based pay, Competency-based pay, and Seniority-based
pay.
o :## Capability based Pay
Monetary pay that employees receive in exchange for their work
o :## Cash Compensation
Describes what's typical for a set of data, usually measured by the arithmetic mean,
median, or mode.
o :## Central Tendency
The Human Resources department makes all decisions relating to pay strategy, as well as
specific reward decisions.
o :## Centralized Approach
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Organizations attempt to have a single set of policies that are determined by the
organization and utilized at all locations.
o :## Centralized Global Rewards Strategy
Defines the type of work appropriate for children and the ages at which children can work.
o :## Child Labor
Step one in the point factor approach to job evaluation
o :## Choose Compensable Factors
A policy that requires employees to pay a set amount for each time any service is used.
o :## Copay Policy
Teams of employees work in concert to be creative, solve problems, and produce results.
o :## Collaborative Environment
These reward systems are most often used for jobs with a sales component and provide
employees a set percentage of the sales that they make. They are used to provide a strong
incentive to create sales and also to maximize the size of those sales. In a pure system,
the full risk of low performance is borne by the employees. For this reason many
organizations pair this system with some other form of base pay (such as salary) to more
evenly distribute that risk.
o :## Commission based
A plan for creating, sharing, and receiving information relating to its Total Rewards
Systems.
o :## Communication Strategy
A ratio frequently used to measure the conformity of pay rates to the pay plan.
o :## Compa-ratio
Identifying these is step one in the Point factor Approach. Job elements or criteria that
identify what the organization values for purposes of job evaluation.
o :## Compensable Factor
Paid time off instead of overtime pay.
o :## Compensatory Time
Configurations of knowledge, skills, and traits that enable employee performance.
Master01: DO NOT COPY AND PASTE!! August 22, 2024 Latest Update
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