establishing strategic pay plans

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Data of benefits like employees’ insurance and other fringe benefits can be collected through

Data of benefits like employees’ insurance and other fringe benefits can be collected through
  • A. benchmark surveys
  • B. salary surveys
  • C. primary survey
  • D. secondary survey
  • Correct Answer: Option B

Paid employees insurance by employers is futile part of

Paid employees insurance by employers is futile part of
  • A. direct financial payments
  • B. salary increments
  • C. paid counseling
  • D. non direct financial payment
  • Correct Answer: Option D

Pay based on piecework is an example of

Pay based on piecework is an example of
  • A. time based pay
  • B. performance based pay
  • C. bonuses
  • D. promotion
  • Correct Answer: Option B

Salary surveys are used for monitoring and maintaining

Salary surveys are used for monitoring and maintaining
  • A. external equity
  • B. internal equity
  • C. compensating equity
  • D. collective equity
  • Correct Answer: Option A

Salary compression is a result of

Salary compression is a result of
  • A. monetary funds
  • B. interest rate
  • C. inflation
  • D. deflation
  • Correct Answer: Option C

A company manage, reviews employees performance and matches with set standards are called

A company manage, reviews employees performance and matches with set standards are called
  • A. focal reviews
  • B. unvocal reviews
  • C. vocal reviews
  • D. local reviews
  • Correct Answer: Option A

Situation in which senior employees’ salaries are lesser than recruited employees, for recently same post, is called

Situation in which senior employees’ salaries are lesser than recruited employees, for recently same post, is called
  • A. salary compression
  • B. incentive compression
  • C. aligned reward strategy
  • D. bonuses compression
  • Correct Answer: Option A

Factors for determining pay rates are

Factors for determining pay rates are
  • A. direct financial payments
  • B. indirect financial payments
  • C. paid bonuses
  • D. Both A and B
  • Correct Answer: Option D

Cornerstone of any executive salary is

Cornerstone of any executive salary is
  • A. salary
  • B. bonuses
  • C. commissions
  • D. stock options for employees
  • Correct Answer: Option A

An elimination of direct comparison in ranking method of job evaluation is included in

An elimination of direct comparison in ranking method of job evaluation is included in
  • A. combine ratings
  • B. rank jobs
  • C. selecting compensable factors
  • D. select and group jobs
  • Correct Answer: Option D

‘commission’ that salesmen earns is an example of

‘commission’ that salesmen earns is an example of
  • A. direct pay
  • B. indirect pay
  • C. compensation
  • D. direct recruitment
  • Correct Answer: Option A

Company paying employee’s for learning organizations knowledge can be classified as

Company paying employee’s for learning organizations knowledge can be classified as
  • A. pay for knowledge
  • B. skill-based pay
  • C. time based pay
  • D. Both A and B
  • Correct Answer: Option D

An employee compares his pay with other’s pay in company at same position is called

An employee compares his pay with other’s pay in company at same position is called
  • A. internal equity
  • B. external equity
  • C. collective equity
  • D. individual equity
  • Correct Answer: Option B

Wages and salaries are included in

Wages and salaries are included in
  • A. direct financial payments
  • B. indirect financial payments
  • C. compensations
  • D. counseling
  • Correct Answer: Option A

In ‘job grading method’, group of jobs that are different is called

In ‘job grading method’, group of jobs that are different is called
  • A. classes
  • B. rank jobs
  • C. grades
  • D. rows
  • Correct Answer: Option B

‘incentives’ given to employees are a part of

‘incentives’ given to employees are a part of
  • A. non direct financial payment
  • B. direct financial payments
  • C. compensation
  • D. pension benefits
  • Correct Answer: Option B

An employer; not paying for title of job he was hired is called

An employer; not paying for title of job he was hired is called
  • A. pay based on company's profit
  • B. pay based on company's stocks
  • C. pay based on competency
  • D. pay based on time
  • Correct Answer: Option C

Benchmarking of jobs is included in

Benchmarking of jobs is included in
  • A. internal equity
  • B. external equity
  • C. procedural equity
  • D. salary survey
  • Correct Answer: Option D

An incentive in which, executives are given right to purchase stocks for specific period is called

An incentive in which, executives are given right to purchase stocks for specific period is called
  • A. long-term incentives
  • B. short-term incentives
  • C. pay scale
  • D. ranking jobs
  • Correct Answer: Option A

After ensuring external and internal equity, next step in establishing pay rates is

After ensuring external and internal equity, next step in establishing pay rates is
  • A. group similar jobs
  • B. price each pay grade
  • C. fine tune pay rates
  • D. determining worth of each job
  • Correct Answer: Option A
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