WGU D351 V2 Topic 9 Questions And
Answers 100% Verified
List and describe the two types of compensation. - ANSWER-direct compensation and
indirect compensation
What are three examples of direct compensation? - ANSWER-wage, salary,
performanced based pay
What are three examples of indirect compensation? - ANSWER-employee services,
benefits, trainings and/or any other indirect form of compensation or benefit.
Define the term "job evaluation." - ANSWER-defined as the process of comparing jobs
by the use of formal and systemic procedures to determine their relative worth within the
organization
Variable compensation links an employees pay to what? - ANSWER-organizational
performance
What are three examples of variable pay? - ANSWER-profit sharing, bonuses, stock
options
Define fixed pay. - ANSWER-Base pay that is not determined by performance
What are the two most common forms of fixed pay? - ANSWER-hourly wage or yearly
salary
Describe the term "gainsharing (or bonus based on achievement)." - ANSWER-payment
of profit shares at regular intervals, typically monthly or yearly. The percentage of profits
distributed ranges from 8 to 75 percent (Profit sharing)
Describe the term "wage-dividend plan." - ANSWER-a special type of cash plan, set the
percentage of profits paid to employees according to the amount of dividends paid to
stockholders.
What are incentive pay plans? - ANSWER-a specific type of performance-based pay
system which is used to encourage specific actions and motivate employees
Describe the term "stock options." - ANSWER-an opportunity for a manager to buy an
organization's stock at a later date, but at a price established when the option is granted
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