QUIZ SSD2343 HRM CLO2

How do statutory benefits differ from non-statutory benefits?

• Statutory benefits are optional, while non-statutory benefits are mandatory.

• Statutory benefits are legally required, while non-statutory benefits are optional.

• Non-statutory benefits are financial, while statutory benefits are non-financial.

• Non-statutory benefits apply only to managers, while statutory benefits apply to all employees.

Why are benefits considered essential in employee retention?

• They reduce employee wages.

• They replace statutory benefits.

• They enhance job satisfaction and morale.

• They reduce training costs

What is the primary purpose of flexi-benefits?

• To save costs for the organization.

• b) To allow employees to customize their benefit packages.

• To enforce standardized benefit schemes.

• To provide only statutory benefits.

Which statutory benefit ensures income protection for workers in case of injury?

• Unemployment benefits
• Workers' compensation
• Health insurance
• Pension plans

How do financial rewards impact employee performance?

• Financial rewards positively impact employee performance by motivating and incentivizing them to achieve higher productivity.
• Financial rewards create a negative work environment.
• Financial rewards lead to decreased motivation among employees.
• Financial rewards have no effect on employee performance.

Why must reward schemes be perceived as fair by employees?

• To ensure motivation and job satisfaction.
• To limit employee benefits.
• To reduce overall company expenses.
• To increase employee turnover.

Which of the following is an example of a non-financial reward?

• Bonus payment
• Recognition or praise
• Salary increase
• Stock options

What makes cafeteria benefit plans flexible for employees?

• Employees receive a standard set of benefits with no customization.
• Cafeteria benefit plans are rigid and do not allow changes.
• Cafeteria benefit plans are only available to full-time employees.
• Cafeteria benefit plans are flexible because they allow employees to customize their benefits according to their personal needs.

How can offering rewards create competition among employees?

• Offering rewards incentivizes employees to outperform each other, fostering competition.
• Employees feel rewarded regardless of performance.
• Offering rewards decreases motivation to compete.
• Rewards lead to collaboration among employees.

What is a potential drawback of poorly designed reward schemes?

• Clearer communication of company goals and values.
• Unintended consequences such as unhealthy competition or unethical behavior.
• Enhanced teamwork and collaboration among staff.
• Increased employee satisfaction and motivation.