Compensation Strategy

Quiz
•
Social Studies
•
University
•
Hard
John Robinson
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is a compensation strategy?
A plan to manage employee salaries and benefits
A method to reduce company expenses
A strategy to increase product sales
A technique to improve customer satisfaction
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is NOT a component of a compensation strategy?
Base pay
Employee training
Incentives
Benefits
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Why is a compensation strategy important for organizations?
It helps in attracting and retaining talent
It reduces the need for marketing
It increases the company's tax liabilities
It decreases employee productivity
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What role does market research play in developing a compensation strategy?
It helps in setting competitive salary levels
It reduces the need for employee evaluations
It increases the company's profit margins
It eliminates the need for employee benefits
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is a common goal of a compensation strategy?
To align employee performance with company goals
To increase the number of employees
To reduce the number of working hours
To eliminate employee benefits
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
How can a compensation strategy impact employee motivation?
By providing financial incentives for performance
By reducing the number of workdays
By increasing the workload
By eliminating bonuses
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the relationship between compensation strategy and employee retention?
A well-designed strategy can improve retention
There is no relationship
A poor strategy increases retention
Compensation strategy only affects new hires
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