HRM 430 Compensation and Benefits

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HRM 430 Compensation and Benefits
The course project relates to the compensation and benefit strategy of an organization. Students will select…

 

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HRM 430 Compensation and Benefits

HRM 430 Compensation and Benefits

A+ Entire Course: Course Project Week 2, 7| Assignment Week 3| Midterm Exam| Discussions Week 1-7| Final Exam

Wal-Mart Stores Course Project Week 2 and Week 7

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Course Project Week 2

Write a one-page (250–300 words) overview about the company and detail the compensation and/or benefit issue(s) you selected for your Course Project. This refers to items 2 and 3 items listed under Course Project Overview above. This short paper is worth 50 points.

Preview:

Wal-Mart Stores, Inc. or popularly known as Wal-Mart is presently the biggest and the leading retailer across the globe.  Its sales as of 2015 reached $485.6 billion, which is generated by its more than 11,500 stores worldwide (Wal-Mart Stores, Inc., 2015).  Delivering the company’s performance are its more than 2.2 million…

Course Project Week 7

The Course Project is due. The project should be 1,200–1,800 words, excluding title and reference page. It should include items 1–7 as listed under Course Project Overview above. The Course Project is worth 200 points.

The course project relates to the compensation and benefit strategy of an organization. Students will select an organization that is experiencing challenges with its compensation and/or benefit program. Some examples where challenges exist within the organization’s compensation and benefit plan could include a high rate of employee turnover, an inability to recruit talented employees due to lack of proper compensation, an inability to fund an adequate benefit program, an incentive program where few employees reach their objectives, an inadequately funded retirement system, or a retirement plan that does not offer proper investment choices. Your paper will be graded according to how well you meet the tasks below.

  1. Follow proper APA style/citations, grammar and punctuation, and so on. An APA tutorial is located on the HUB for assistance.
  2. Identify an organization with compensation or benefits challenges. It could be an organization with which you are familiar personally or through the media.
  3. Provide a detailed review of the compensation and/or benefit challenge (problem) at the organization. It is recommended that you concentrate on the principle compensation and/or benefit challenge(s) within a single organization, rather than a number of less important issues. Be careful to avoid selecting a topic that is too broad. At the same time, the challenge facing the organization should be broad enough to provide multiple strategies to help resolve the problem.
  4. Discuss the compensation and/or benefits strategies other organizations have utilized related to your challenge, along with a review of their success and failure. As an example, if you are interested in an employee assistance program and why usage is less than expected, detail the strategies other organizations have followed to improve participation and see a return on their investment. Information regarding other organizations should be gathered through a research process and consist with academic-quality materials rather than word-of-mouth information.
  5. Recommend the strategy you propose the organization should follow to address its compensation and/or benefit challenge. Explain why you have selected this strategy. Include research (theory) to substantiate your selection.
  6. Discuss impediments to this strategy, including any contingency plans that should be considered.
  7. Finally, detail how the strategy you propose would address the organization’s challenge (as detailed in step 2 above) and its impact on both the organization and the employee. Include specific items that should be included in the action plan.

Preview:

Recognizing the global scale of Wal-Mart’s operation, a sudden jump of 50% on its employees’ wages can take a big chunk of its operational cost and could even lead to detrimental losses for the first time in its history.  To address this adverse impact, Wal-Mart may opt to implement this strategy in…

HRM 430 Compensation and Benefits

Assignment Week 3

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Your assignment is to write a short paper (500–750 words) defining compensation, compensation philosophy, and critical components of a compensation strategy. Provide one solid example of an effective compensation practice/policy. Your paper will be graded on the following:

  • definition of compensation;
  • overview of compensation philosophy;
  • critical components of a compensation strategy; and
  • example of an effective compensation practice/policy.

Your paper must be prepared utilizing the APA format and should include external, academic-quality references. See the Syllabus section “Due Dates for Assignments & Exams” for due date information.

Preview:

Compensation and benefits are critical from both the employers and employees point of views.   For employees, although this is not the only consideration for accepting a job, it is a major determinant, and often, the higher is the salary offer, the…

HRM 430 Compensation and Benefits

Midterm Exam 

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(TCO 1) Compensation represents both _____ rewards.

Intrinsic and extrinsic

Introverted and extroverted

Income and outcome

Enter and exit

(TCO 1) Which theory states that employees’ knowledge and skills generate productive capital?

Job characteristics theory

Expectancy theory

Equity theory

Human capital theory

(TCO 1) Which constituency group turns to compensation professionals for advice about setting appropriate pay rates for jobs?

Employees

Line managers

Unions

Executives

(TCO 1) What is a planned effort to facilitate employees’ learning of job-related knowledge, skills, or behaviors?

Training

Labor-management relations

Career development

Performance appraisal

(TCO 5) According to the U.S. Bureau of Labor Statistics, which of the following is projected through the year 2012?

The percentage of women in the workforce will decrease.

The percentage of Asian people in the workforce will decrease.

Total employment will decrease about 15%.

Total employment will increase about 15%.

(TCO 5) Which one of these issues is not addressed by the Fair Labor Standards Act of 1938?

Overtime pay

Child labor provisions

Executive compensation

Minimum wage

(TCO 7) Which performance appraisal error reflects the tendency to rate every employee at the low end of the rating scale, regardless of actual performance?

Negative halo error

Error of central tendency

Contrast errors

Errors of strictness

(TCO 7) Gunther Rohn was rewarded for making a suggestion that saved Ewe and Eye Electronics thousands of dollars. Which type of incentive compensation approach might have worked best?

Gain-sharing plan

Group incentive programs

Employee stock ownership plan

Management incentive plans

(TCO 7) According to the job characteristics theory, this core characteristic refers to the amount of freedom, independence, and discretion the employee enjoys in determining how to do the job.

Feedback

Autonomy

Task identity

Skill variety

(TCO 5) Age discrimination of employees of federal contractors is prohibited by which executive order?

11414

11411

11141

11114

(TCO 5) What are the revised guidelines introduced in 2004 for determining whether jobs are exempt from FLSA overtime pay provisions?

Overtime Nonexempt Rules

Glass Ceiling Act

Fair Pay Rules

Bennett Amendment

(TCO 5) Which legislation removed barriers to free commerce and restored equality of bargaining power?

Civil Rights Act of 1964

Equal Pay Act of 1963

Age Discrimination in Employment Act of 1967

National Labor Relations Act of 1935

(TCO 4) The federal government’s General Schedule is an example of what kind of pay system?

Merit pay

Seniority-based pay

Knowledge-based pay

Longevity pay

(TCO 4) This occurs when a rater generalizes good performance behavior in one aspect of the job to all aspects of the job.

Similar-to-me effect

First-impression effect

Positive halo effect

Negative halo effect

(TCO 4) Management by objectives is one method of which type of performance appraisal?

360-degree performance appraisal

Goal-focused system

Goal-oriented system

Behaviorally anchored system

(TCO 4) Which performance appraisal system is based on writing performance behaviors as expectations, not as observed incidents?

NBO

BOS

BARS

CIT

HRM 430 Compensation and Benefits

(TCO 4) These are the four core characteristics of the job characteristics theory.

Feedback, task variety, skill variety, autonomy

Knowledge, skill identity, autonomy, feedback

Skill variety, task identity, autonomy, feedback

Skill identity, autonomy, task variety, feedback

(TCO 4) These are four pay-for-knowledge programs.

Cross-departmental training systems, skill blocks model, job-point accrual model, breadth-of-skills model

Stair-step model, skill blocks model, job-point accrual model, cross-departmental training systems

Job-point accrual model, cross-sectional training system, stair-step model, skill blocks model

Cross-skills training system, stair-step model, job-point accrual model, skill blocks model

(TCO 4) Which of the following are the main reasons for the increased costs associated with pay-for-knowledge programs?

Increased compensation benefits, higher training costs, increased overhead costs

Higher payroll costs, increased overhead costs, higher training costs

Increased overhead costs, increased compensation benefits, higher payroll costs

Increased compensation benefits, higher training costs, and higher payroll costs

(TCO 4) Which person-focused model links pay levels to increased knowledge and skills within the same general job category?

Stair-step model

Skill blocks model

Job-point accrual model

Cross-departmental model

(TCO 8) Which gain-sharing program is based on a labor hour ratio and has a buy-back provision?

Rucker

Improshare

Scanlon plan

Management incentive plan

(TCO 8) Which gain-sharing plan focuses on lowering the percentage of labor costs using a value-added formula?

Rucker plan

Scanlon plan

Behavior encouragement plan

Improshare

(TCO 8) This formula for determining the amount available for profit sharing uses a specific percentage of annual profits contingent upon the successful attainment of a specified profit goal.

Fluctuating first dollar of profits

Differed first dollar of profits

Graduated first dollar of profits

Fixed first dollar of profits

(TCO 2) These two are job evaluation techniques.

Market based and job context

Market context and job based

Market based and job content

Market context and job content

(TCO 2) Which unit in the job analysis process is the smallest?

Task

Element

Job

Family

(TCO 3) This BLS survey provides the quarterly measure of changes in labor and compensation costs, and is used as the principle economic indicator for the Federal Reserve.

National Compensation Survey

Employment Cost Index

Employer Costs for Employee Compensation

National Benefit Index

(TCO 3) When examining competitors’ compensation offerings, this term is used to describe the percentage of employer compensation costs that are applied to compensation and benefits.

Mix

Quartile

Standard percentile

Nominal dollars

(TCO 6) Which pay structure reflects the increasing organizational trend toward flatter, less hierarchical corporate structures?

Two-tier pay structure

Broadbanding

Market-competitive pay structure

Internally consistent pay structure

(TCO 6) These represent the horizontal dimension of pay structures.

Pay ranges

Pay grades

Job evaluation points

Pay spreads

(TCO 8) Which of the following is a characteristic of the Scanlon plan?

Gain-sharing formulas are based on the ratio between labor costs and productivity levels.

Gain-sharing formulas are based on the ratio between labor costs and production costs.

Gain-sharing formulas are based on the ratio between production costs and sales value of production.

Gain-sharing formulas are based on the ratio between labor costs and sales value of production.

HRM 430 Compensation and Benefits

Discussions Week 1-7 All Students Posts 576 Pages 

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Compensation System and Unions and Compensation Discussions Week 1 All Students Posts 82 Pages 

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Compensation System – 40 Pages 

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Discuss the general goals of an organization’s compensation system, including how a compensation strategy works to support the organization’s business strategy. Which, in your opinion, provides the biggest bang for the buck vis-a-vis employee engagement, productivity and morale? As you look at your organization, how could you address a shortfall in the compensation strategy? What would you change? What happens if the organization can’t afford to be “equal” in the market when it comes to pay?  What other alternatives are there?…

Unions and Compensation – 42 Pages

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Explain how you would partner with a union in creating a compensation strategy (you do not have to have worked in a union or been a union member to respond to this question). Describe how the FLSA, union, and employer work together in support of employee wages. I’ve learned that “relationship building” is the key to forging win-win outcomes not only on collective bargaining agreements, but also day to day union/employee issues.  As a follow-up question, what actions can employers take to forge such relationships?  Look at UPS, which is 100% unionized…100%.  The company thrives and employees are happy so obviously management has tapped the secret recipe toward effective union/management relations.  Thoughts?  Opposing points of view? In your own opinion, can you please cite 3 PROS and 3 CONS to union membership?…

HRM 430 Compensation and Benefits

Merit Pay and Incentive Plans Discussions Week 2 All Students Posts 75 Pages 

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Merit Pay – 38 Pages

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Define the concept of merit pay and the advantages and limitations of a merit pay system. Are your incentive compensation plans designed with a “pay for performance” objective?  Do they create a meritocracy?  What is a performance-based organization?  How does it relate to compensation?  Is this the same as achieving a meritocracy? Do you believe that pay is a motivator?  If so, why?  How can merit pay motivate employees and increase their performance?  Thoughts and/or experiences?…

Incentive Plans – 37 Pages 

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Discuss how incentive pay plans, both individual and group, motivate employees to achieve high levels of performance. Offer one individual and group incentive pay strategy that would work best in your organization. I would like you to discuss (a) whether your organization’s pay plans actually motivate workers; and (b) whether you agree or disagree that pay is a human motivator. Feel free to disagree as there has been much written about this subject.  If you have time, Google “comparable pay” and see what you find.  There has been considerable research from Ed Lawler and other theorists that portend that pay is indeed a motivator especially for CEOs. How does merit pay create a more productive workforce? What are your thoughts about the current movement to raise the minimum wage to $15.00 per hour?  Do you think this will adequately motivate and increase productivity for employees who occupy positions that earn less than $10.00/hour today?…

HRM 430 Compensation and Benefits

Market Competitive System and Job Evaluation Discussions Week 3 All Students Posts 82 Pages 

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Market Competitive System – 42 Pages 

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Discuss the basic building blocks of a market competitive pay system, including the relationship between internal and external equity. In your readings and lecture this week you will learn about market competitive pay, which should be the driver of any compensation system.  You will be exposed to the notion of internal and external equity.  I encourage you to Google “competitive worth” as it gets to the root of compensation being a satisfier or disatisfier.  When an employee is working side by side with another who is earning more, what happens?  How would that make you feel?  So what’s the fix?  Thoughts?  What is meant by the 50% vs. 75th market percentile?  Why would one be used vs. the other?…

Job Evaluation – 40 ages

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Provide a brief overview of the job evaluation process, including the importance of compensable factors. Detail the compensable factors of a position you are familiar with and their impact on that position’s salary. I’m looking forward to reading your posts regarding job evaluation processes, which are the primary drivers begin many HR tools for hiring and professional development.  To start, cite the compensable factors of any position you know, your own or otherwise, and discuss the impact on that position’s salary or hourly wage. What is the role of the HR generalist in the job evaluation process?  Is his/her role any different from that of the hiring manager? Who in the HR Department has ultimate responsibility for creating, revising and maintaining accurate, current job descriptions?…

HRM 430 Compensation and Benefits

Legally Required Benefits and Role of Benefits Discussions Week 4 All Students Posts 83 Pages 

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Legally Required Benefits – 44 Pages 

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Provide a general overview of legally required benefits, including their purpose in society. This week’s discussion thread is a rather interesting as you’re being prompted to research and share the health and wellness benefits that are “legally required” by law.  The fact that these laws are required should correlate to a useful purpose for their existence.  Please share both and let’s have a healthy dialogue.  What is the purpose of the Social Security Act and how does it affect the compensation of today’s employee? Do employers match the percentage SSI assessed against employees?   Since the SSA no longer mails statements, how can citizens access their annual social security statements?…

Role of Benefits – 39 Pages 

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Discuss the role of benefits in compensation. Review the primary reasons an organization provides benefits to its employees; predict future trends in relation to employee benefits. The term “Total Rewards” is commonly used in business today to represent the sum of cash compensation (salaries and wages), health benefits and retirement plans.  Discuss the role of these benefits in regard to an employee’s total compensation package.  Review the primary reasons an organization provides these benefits to its employees but most important, think about the changing times we live in with rising costs of benefits…and how so many companies are changing philosophies on what their obligations should be.  What is the difference between defined contribution vs. defined benefit programs?  Which have become more cost-effective for employers? What is the range of match percentages across good and poor plans?  What are the primary reasons for this unfortunate trend?…

HRM 430 Compensation and Benefits

Employee Benefits and Retirement Programs Discussions Week 5 All Students Posts 86 Pages 

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Employee Benefits – 47 Pages 

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Employers offer a large variety of benefits. In recent years, we have seen some of those benefit offerings reduced. What benefit trends are you seeing with employers? What impact do you feel these changes will have long term? In order to adequately participate in this week’s discussion thread on employee benefits, I want you to research the impact of President Obama’s Affordable Care Act of 2010.  The A.C.A. has dramatically changed an employer’s obligation with regard to offering “affordable” health care coverage for its employees due to the obligatory “employer mandate.”  In addition, it has dramatically increased the overall cost of health care premiums for every American causing many carriers to drop out of the program and others like United Healthcare to consider same.
I suggest you Google any of the following and report your findings to this discussion thread:
1. Obamacare
2. Patient Protection Act
3. Affordable Care Act

In 2018, the Cadillac Tax will be imposed on those businesses on some companies as a result of ACA.  What is this tax and why will it be assessed?…

Retirement Programs – 39 Pages 

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In the United States, we have seen a trend towards defined compensation programs from defined benefit programs. Many employers have moved in this direction to help them be more competitive. What are some reasons that these benefit programs are offered? How are they designed? What are some trends that you see with the design of the programs? What is the difference between defined contribution vs. defined benefit programs?  Which have become more cost-effective for employers? As you know from your readings and research, fewer employees today are receiving company-paid retirement benefits than 10 years ago. What are the primary reasons for this unfortunate circumstance?…

HRM 430 Compensation and Benefits

Executive Pay and Contingent Workers Discussions Week 6 All Students Posts 79 Pages 

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Executive Pay – 42 Pages

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Contrast executive pay with nonexecutive pay, including a discussion on executive core and deferred compensation packages. This discussion thread attempts to delineate between executive and non-executive compensation.  As a former senior executive and leader of my company’s executive compensation function, I can share that the Board of Directors Compensation Committee governs compensation for senior leaders.  The committee met twice annually (February and October) to review and set total compensation.  Senior executive pay generally consists of a base salary, short-term cash bonus and long-term stock bonus which can take the form of stock options, performance shares or restricted stock.  These shares usually have  a vesting period of 3, 4 or 5 years.  Vesting can be graduated (% over each year) or cliff (all at the end of the vesting period).  Depending upon one’s level, short and long term incentives should exceed base salary by 2 or more times. Share what you have learned in the readings this week that supports my assessment. What is the function of a company’s compensation committee?  Are all companies (privately-held, not-for-profit and publically-traded) required to have one?  Who generally chairs the Board of Directors compensation committee?  How is the committee structured?…

Contingent Workers – 37 Pages 

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Contingent workers are assuming a greater role in today’s organization. With that as a background, discuss compensation and benefit issues associated with the following workers: part time, temporary, independent, and flexible/telecommuting. One generally sees a high volume of contingent workers in the retail/wholesale/distribution industry as they gear up for holiday seasons and such.  In my company, the Auto Parts retail stores business, our season begins in April with the warmer weather and generally slows down in November and December when families stop driving on vacations.  Our sales pick up during that period so we staff our stores with what we call “Variable Service Part-Timers” which is nothing more than a contingent worker.  Please share your experiences with contingent workers and how they are compensated.  How does the fee process work for contingent workers (a) when they are hired; and (b) when they are converted to a permanent position?  Fewer employees today have full-time jobs than ever before. The last statistic showed a 10% decrease in full-time jobs in the last 5 years. What can be done to reverse this trend and still compete internationally?…

HRM 430 Compensation and Benefits

Compensating Expatriates and Benefits in Other Countries Discussions Week 7 All Students Posts 89 Pages 

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Compensating Expatriates – 40 Pages 

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Companies have a variety of factors to consider when looking at compensating expatriates. What goes into this discussion? What are some common methods of payment, and how are they used?  What is the “average timeframe” associated with expatriate assignments? What are some items that companies look at when determining expatriate pay? What types of business circumstances would require the deployment of expatriate employees?  How is housing in the host country handled?  Who pays for expatriate housing…the employer or employee?…

Benefits in Other Countries – 49 Pages 

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Compare the benefits provided within the United States to those offered in other countries. What is different in terms of benefit offerings and benefits funding?  What strategies do other countries utilize in their benefit offerings that you would want to consider?  What tools do you have at your disposal to incentivize employees to seriously evaluate and consider such assignments?…

HRM 430 Compensation and Benefits

Final Exam 

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(TCO 1) Which pay structures represent companies’ compensation policies that fit with their business objectives? (Points : 5)

Market competitive

Internally consistent

Equitable

Analytical

(TCO 1) Which of the following is not a part of core compensation?  (Points : 5)

Incentive pay

Skill-based pay

Discretionary benefits

Cost-of-living adjustments

(TCO 2) Medicare Part A is based on what type of healthcare option? (Points : 5)

Preferred provider plan

Medical savings account

Managed care option

Fee for service

(TCO 3) Helen believes that the company should share part of the risk for her sales position. Which sales compensation plan should she pursue? (Points : 5)

Salary-plus-bonus plan

Commission-only plan

Commission-plus-draw plan

Salary-plus-commission plan

(TCO 3) What would Yolanda’s salary of $165,000 be considered if the mean salary for Acme Inc. is $30,000 and the median salary is $32,000? (Points : 5)

Outlayer
Outsider

Outlier

Outliner

(TCO 4) Basing the share of profits on job performance is characteristic of which type of employee distribution system? (Points : 5)

Proportional payments based on contribution to profit
Equal payments

Graduated first dollar of profit

Proportional payments based on annual salary

(TCO 4) This formula for determining the amount available for profit sharing uses a specific percentage of annual profits contingent upon the successful attainment of a specific profit goal. (Points : 5)

Fluctuating first dollar of profits

Differed first dollar of profits

Graduated first dollar of profits

Fixed first dollar of profits

(TCO 5) This type of bargaining occurs when unions shift from bargaining more for job security than higher wages. (Points : 5)

Conciliatory

Concessionary

Collective

Compensatory

(TCO 5) Which of the following laws set prevailing wage rates for companies that provide services to the U.S. government? (Points : 5)

Civil Rights Act of 1991

Equal Pay Act of 1938

Fair Labor Standards Act of 1938

Davis-Bacon Act of 1931

(TCO 5) The collective bargaining system was established by the passage of which federal act?  (Points : 5)

Davis-Bacon Act

National Labor Relations Act

Wagner Act

Union Labor Relations Act

(TCO 6) You broke your leg at work. The company called to inform you that they had to switch your benefits from the short-term disability account to the long-term account. That means you have probably been off work around how long? (Points : 5)

1 month

6 month

18 month

12 month

(TCO 6) This term describes a set of skills necessary to perform a specific job or a group of similar jobs. (Points : 5)

Skill range

Skill grade

Skill block

Skill structure

(TCO 7) Which of the following is not a factor in determining whether an individual will find a just-meaningful difference from a merit increase? (Points : 5)

The individual’s length of service with the company

The individual’s cost of living

The individual’s expectations of rewards from the job

The individual’s attitude toward the job

(TCO 7) Acme Company pays a portion of company profits to its employees. What kind of companywide incentive plan does Acme Co. offer? (Points : 5)

Employee stock option plan

Deferred profit-sharing plan

Current profit-sharing plan

Employee stock ownership plan

(TCO 8) Which of the following is true of most general stock compensation plans? (Points : 5)

The company stock shares represent equity segments of equal value.
Employees own the stock upon purchase.
Company stock represents partial equity in the company.

Stock options refer to what an employee can do with the stock once he or she purchases it.

(TCO 8) Which type of compensation program is based, in part, on the human capital theory? (Points : 5)

Merit pay

Seniority pay

Incentive pay

Skill-based pay

(TCO 9) This term refers to the percentage of the health bill the insured employee is required to pay. (Points : 5)

Copayment
Copremiums
Coinsurance

Coadmission

(TCO 9) This vesting requires employers to grant employees 100% vesting after no more than 3 years of service. (Points : 5)

Graduate

Participative

Cliff

Ridge

(TCO 10) After the recent merger of ABC and XYZ Airlines, the former CFO of XYZ Airlines lost his employment in the newly merged airline. Which compensation agreement extends pay and benefits for him?(Points : 5)

Phantom stock

Discount stock option plans

Incentive stock options

Golden parachutes

(TCO 10) The SEC requires compensation information on the CEO and how many of the most highly paid executives? (Points : 5)

Six

Five

Four

Three

(TCO 9) If the CEO of a new company asked you how much per employee she would be taxed by FUTA, what would you tell her? (Points : 5)

3.5% of the first $7,000

6.2% of the first $7,000

6.2% of the first $10,000

3.5% of the first $10,000

(TCO 9) These represent a series of payments for the life of the participant and beneficiary. (Points : 5)

Collateral payments

Lump sum distributions

Periodic payments

Annuities
(TCO 3) Which job evaluation method entails ordering jobs based on extremes? (Points : 5)

Paired comparison

Alternation ranking

Classification

Factor comparison

(TCO 3) These two are job evaluation techniques. (Points : 5)

Market based and job context

Market content and job based

Market based and job content

Market context and job content

(TCO 10) What key questions would you address in determining whether U. S. executives are paid too much? Please discuss in detail and provide examples. (Points : 30)

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There are a lot of good questions for trying to figure out whether or not U.S. Executives are being overpaid. O’Leary, a professor of industrial-organizational psychology…

(TCO 10) Discuss the three main types of bonuses common in executive compensation. Please discuss in detail and provide examples of each type of bonus. (Points : 30)

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Three types of bonuses common in executive compensation are long-term incentives, executive benefits, and…

(TCO 8) Compare and contrast the various multi-skill-based pay systems—the stair-step model, the skill blocks model, the job-point accrual method, and the cross-departmental model. Please discuss in detail and provide examples. (Points : 30)

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In the stair step model, members are allowed to sponsor any number of associates or frontline…

(TCO 8) List and discuss four possible limitations of merit pay programs. Please discuss in detail and provide examples for each of the limitations. (Points : 30)

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One possible limitation is that there is no 100% objective way of differentiating various employees’ performance in order to…

(TCO 7) Discuss in detail the factors that compensation professionals use in determining the appropriate compensation mix for salespeople. Provide at least three examples. (Points : 30)

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A business’ compensation mix must be just as good, if not better than that of the competitors. Company’s need a…

(TCO 7) Merit pay is strengthened when you utilize the job analysis process. Discuss in detail how job analysis can be used to strengthen the legal standard of a company. Provide three examples. (Points : 30)

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Job analysis can be used to justify pay differences between men and women in the workplace in order to…

(TCO 6) Discuss the concept of “just-meaningful pay increase.” How can it can strengthen the pay-for-performance link? (Points : 30)

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A “just-meaningful pay increase” refers to a perception of employees about how much increase in their…

(TCO 6) After completing the job analysis, your boss has asked you to conduct a job evaluation of the various positions in the company. Detail the steps you would take in accomplishing this task. Provide an example of a point factor evaluation system with at least two factors. (Points : 30)

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The first step is to determine whether a single job evaluation technique is sufficiently broad to assess…

(TCO 6) Discuss the link between a company’s pay level policy and its strategic mandate. Provide at least three examples. (Points : 30)

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A firm can choose from three pay level policies: 1) market…

(TCO 5) List and discuss in detail why unions fail to support a company’s use of contingent workers. Provide examples. (Points : 30)

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As the business environment becomes more challenging and uncertain, employers try to find ways and means to…

(TCO 5) Compare and contrast the types of claims that can be made under workers’ compensation programs. (Points : 30)

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Workers’ compensation is a form of insurance that provides wage replacement as well as medical benefits to…

(TCOs 1, 2, 3, and 6) Compare and contrast horizontal skills, vertical skills, and depth of skills. (Points : 30)

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Companies usually train employees to develop horizontal skills and/or vertical skills. An employee’s compensation may also depend….

(TCOs 1, 2, 3, and 6) Explain how an incentive pay system, when properly applied, can contribute to companies meeting the goals of lowest cost and differentiation strategies. Provide an example. (Points : 30)

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An incentive pay system can contribute to companies in the following ways:…

(TCO 3) Compare and contrast the strategic issues involved with contingent and flexible workers for a company pursuing a lowest cost strategy? Please discuss in detail. Provide at least three examples. (Points : 30)

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a.           Although contingent or flexible workers enable companies to be competitive in the market by having lower…

(TCO 1) Distinguish between functional and dysfunctional turnover. Explain how compensation practices contribute to dysfunctional turnover. Provide an example of each. (Points : 30)

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Employee turnover is the rate at which employees are leaving a company on an annual basis. This can be expressed as a…

(TCO 1) List and discuss in detail ways that a national culture influences a company’s competitive strategy and compensation practice. Provide examples of each. (Points : 30)

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An understanding of the influence that a nation’s culture has on a company’s competitive strategy and…

(TCO 1) Compare and contrast employers’, employees’, and government’s goals in the compensation system. Provide at least three examples. (Points : 30)

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Employee goals are to be compensated enough to not live in poverty, be able to take care of their families…

HRM 430 Compensation and Benefits