Compensation, Wages, and Performance Evaluation Quiz

What is compensation/wages?

• All forms of pay given by employers to their employees for the performance of their jobs

• Benefits given by employers other than financial remunerations

• Recognition programs and rewarding job assignments

• The feeling that employees receive less or more than they deserve

What is indirect compensation?

• All forms of pay given by employers to their employees for the performance of their jobs

• Benefits given by employers other than financial remunerations

• The feeling that employees receive less or more than they deserve

• Recognition programs and rewarding job assignments

What is nonfinancial compensation?

• All forms of pay given by employers to their employees for the performance of their jobs

• Benefits given by employers other than financial remunerations

• Recognition programs and rewarding job assignments

• The feeling that employees receive less or more than they deserve

What is the Equity Theory related to compensation?

• Achieving equal pay for the value of the job performed

• Motivating employees with attractive rewards or benefits

• Computation of pay according to the number of units produced

• Computation of pay according to the number of work hours rendered

What is the Expectancy Theory related to compensation?

• Computation of pay according to the number of units produced

• Motivating employees with attractive rewards or benefits

• Achieving equal pay for the value of the job performed

• Computation of pay according to the number of work hours rendered

What is the basis for compensation when pay is computed according to the number of units produced?

• Weekly basis

• Hourly basis

• Piecework basis

• Daily basis

What is the basis for compensation when pay is computed according to the number of work hours rendered?

• Weekly basis

• Daily basis

• Hourly basis

• Piecework basis

What are the internal factors influencing compensation rates?

• Local and global market conditions

• Labor supply and area/regional wage rates

• Organization’s compensation policies and job importance

• Collective bargaining agreements and national laws

What are the external factors influencing compensation rates?

• Collective bargaining agreements and national laws

• Labor supply and area/regional wage rates

• Local and global market conditions

• Organization’s compensation policies and job importance

What is the importance of performance evaluation in relation to compensation?

• Determines the compensation given to employees based on their performance

• Motivates employees to work well because of the attractiveness of the rewards

• Affects the feeling of employees receiving less or more than they deserve

• Determines the employees’ qualifications in meeting the job requirements