WGU C236 COMPENSATION AND BENEFITS
FINAL EXAM COMPREHENSIVE QUESTIONS
AND CORRECT ANSWERS
◉ intrinsic.
Answer: compensation represents employees' critical psychological
states that result from performing their jobs
for example, experiencing a great feeling from the belief that one's
work matters in the lives of others.
ex: habitat for humanity
◉ extrinsic.
Answer: includes both monetary and nonmonetary rewards
◉ Strategic Compensation.
Answer: refers to the design and implementation of compensation
systems to reinforce the objectives of both HR strategies and
competitive business strategies.
◉ The planned use of company resources
-Financial capital
,-Equipment capital
-Human capital
Multiple years of time span
Competitive strategy choices
-Lowest cost strategy
-Differentiation strategy.
Answer: what is in a Competitive business Strategy?
◉ competitive strategy
human resource starategy
compensation strategy.
Answer: what are considered strategic decisions?
◉ recruitment
selection
performance appraisal
compensation
training.
Answer: what are general tactical HR decisions?
,◉ seniority pay
merit pay
incentive pay
pay for knowledge
skill-based pay
broad banding
two-tier pay structures
discretionary benefits options.
Answer: what are some specific tactical HR decisions
?(compensation examples)
◉ CEO
These individuals can give the CEO and chief financial officer (CFO)
an understanding of how employees combine with business
processes to expand or shrink shareholder value.
Answer: Hr and compensation professionals need to think like...
◉ Capital
refers to the factors that enable companies to generate income,
higher stock prices, economic value, and reputation
Human capital
, refers to sets of collective skills, knowledge, and abilities that
employees can apply to create value for their employers.
Answer: Think about the role of capital for value creation
what is capital? what is human capital?
◉ *Well-designed merit pay and incentive programs, which
reinforce excellent job performance
*Incentive programs
which reduce employee entitlement
*Person-focused pay which is based on extensive employer-
sponsored training that enables employees to work in changing
environments.
Answer: Compensation professions can leverage the value of human
capital in a variety of ways...
◉ What are the competitive business strategy options and does
compensation strategy fit well with the objectives of company
competitive business and HR strategies?
Does the choice and design of compensation practices fit well to
support compensation strategy?
FINAL EXAM COMPREHENSIVE QUESTIONS
AND CORRECT ANSWERS
◉ intrinsic.
Answer: compensation represents employees' critical psychological
states that result from performing their jobs
for example, experiencing a great feeling from the belief that one's
work matters in the lives of others.
ex: habitat for humanity
◉ extrinsic.
Answer: includes both monetary and nonmonetary rewards
◉ Strategic Compensation.
Answer: refers to the design and implementation of compensation
systems to reinforce the objectives of both HR strategies and
competitive business strategies.
◉ The planned use of company resources
-Financial capital
,-Equipment capital
-Human capital
Multiple years of time span
Competitive strategy choices
-Lowest cost strategy
-Differentiation strategy.
Answer: what is in a Competitive business Strategy?
◉ competitive strategy
human resource starategy
compensation strategy.
Answer: what are considered strategic decisions?
◉ recruitment
selection
performance appraisal
compensation
training.
Answer: what are general tactical HR decisions?
,◉ seniority pay
merit pay
incentive pay
pay for knowledge
skill-based pay
broad banding
two-tier pay structures
discretionary benefits options.
Answer: what are some specific tactical HR decisions
?(compensation examples)
◉ CEO
These individuals can give the CEO and chief financial officer (CFO)
an understanding of how employees combine with business
processes to expand or shrink shareholder value.
Answer: Hr and compensation professionals need to think like...
◉ Capital
refers to the factors that enable companies to generate income,
higher stock prices, economic value, and reputation
Human capital
, refers to sets of collective skills, knowledge, and abilities that
employees can apply to create value for their employers.
Answer: Think about the role of capital for value creation
what is capital? what is human capital?
◉ *Well-designed merit pay and incentive programs, which
reinforce excellent job performance
*Incentive programs
which reduce employee entitlement
*Person-focused pay which is based on extensive employer-
sponsored training that enables employees to work in changing
environments.
Answer: Compensation professions can leverage the value of human
capital in a variety of ways...
◉ What are the competitive business strategy options and does
compensation strategy fit well with the objectives of company
competitive business and HR strategies?
Does the choice and design of compensation practices fit well to
support compensation strategy?
