Compensation and Benefits C236
Define Total Rewards.
refers to all forms of pay and compensation, tangible benefits, and other intangible rewards that
an organization provides
How are these three elements of total rewards connected?
-three forms of rewards act in concert to influence employee behavior
-Total Rewards perspective will allow employees to consider each of the components
independently, but also collectively, enabling them to create an effective reward system
List an example of an employee benefit.
like a retirement plan
List an example of an intangible benefit.
like meaningful work and rewarding relationships
How will this course help HR Managers?
This course will help you see how your total rewards strategy fits with your business strategy
and the other facets of your HR systems such as staffing, recruiting, and training.
Define cash compensation.
monetary pay that employees receive in exchange for their work
What is base pay?
salary or hourly wages.
What is variable pay?
performance-based rewards such as bonuses and commissions, as well as longer-term equity
rewards such as stock options
,What is the first and foremost outcome of a Total Rewards System?
higher performance
Define the concept of Organizational Citizenship Behaviors.
value-creating activities in which employees engage but which are not part of their job
What is an example of an Organizational Citizenship Behavior?
Employees who go beyond their defined responsibilities to help a colleague at work
What three areas contribute to the overall performance of an organization?
Employee performance, team performance, and OCBs
What can Organizational Performance include?
effectiveness at meeting customer needs, new product creation, and gains in market share,
profits, and other measures of financial return on the firm's assets
Explain the different categories of Total Rewards outcomes.
-sustain quality performance in each area over time (enable long term and short term)
-attraction and retention
-perceptions of fairness&satisfaction
How are Cost and Efficiency related to the outcomes of the rewards System?
people-related expenses make up a significant portion of the expenditures for many
organizations, the levels of these expenditures have a big impact on the bottom line
What additional items are a part of the benefits package?
vacations, holidays, personal excused absences, and other opportunities for not working
What are the different types of shift differentials?
overtime- 1.5 pay for anything after 40 hours
shift pay - for nightshift
hazard pay-
on-call pay-
call-back pay- called back to work for emergencies
geographic - offsets cost of living
weekend/holiday pay
, What is the Fair Labor Standards Act?
-commonly referred to as the Wage and Hour Law or FLSA
-sets minimum wage standards, overtime pay standards, and child labor restrictions
What is the difference between exempt status and non-exempt status?
Non-exempt employees are those who are covered by the minimum wage and overtime pay
provisions of the FLSA.Exempt Employees are exempt from the overtime requirements of the
Fair Labor Standards Act, such as outside salespeople and executives who have administrative
or managerial responsibilities.
Are non-discretionary bonuses included in a non-exempt employee's overtime pay calculation?
The regular rate of pay includes the basic hourly rate of pay plus any non-discretionary
bonuses, shift differentials, production bonuses, and commissions earned. yes it is calculated
into overtime
What is the purpose of the Family Medical Leave Act?
provide employees time off with no pay while dealing with major life events so they don't lose
their job
What is considered the Business Strategy?
the collection of decisions, approaches, and activities that allow an organization to compete and
win
What does a Cost Leadership Strategy emphasize?
emphasizes having a lower cost product or service as the highest priority throughout its
processes
How is differentiation strategy defined?
places a high priority on providing innovative, exceptional, and high-quality products and/or
services to customers
How does an organization use Niche-Focused Strategy?
organization chooses a small and segmented market and competes only in that small arena
Define Total Rewards.
refers to all forms of pay and compensation, tangible benefits, and other intangible rewards that
an organization provides
How are these three elements of total rewards connected?
-three forms of rewards act in concert to influence employee behavior
-Total Rewards perspective will allow employees to consider each of the components
independently, but also collectively, enabling them to create an effective reward system
List an example of an employee benefit.
like a retirement plan
List an example of an intangible benefit.
like meaningful work and rewarding relationships
How will this course help HR Managers?
This course will help you see how your total rewards strategy fits with your business strategy
and the other facets of your HR systems such as staffing, recruiting, and training.
Define cash compensation.
monetary pay that employees receive in exchange for their work
What is base pay?
salary or hourly wages.
What is variable pay?
performance-based rewards such as bonuses and commissions, as well as longer-term equity
rewards such as stock options
,What is the first and foremost outcome of a Total Rewards System?
higher performance
Define the concept of Organizational Citizenship Behaviors.
value-creating activities in which employees engage but which are not part of their job
What is an example of an Organizational Citizenship Behavior?
Employees who go beyond their defined responsibilities to help a colleague at work
What three areas contribute to the overall performance of an organization?
Employee performance, team performance, and OCBs
What can Organizational Performance include?
effectiveness at meeting customer needs, new product creation, and gains in market share,
profits, and other measures of financial return on the firm's assets
Explain the different categories of Total Rewards outcomes.
-sustain quality performance in each area over time (enable long term and short term)
-attraction and retention
-perceptions of fairness&satisfaction
How are Cost and Efficiency related to the outcomes of the rewards System?
people-related expenses make up a significant portion of the expenditures for many
organizations, the levels of these expenditures have a big impact on the bottom line
What additional items are a part of the benefits package?
vacations, holidays, personal excused absences, and other opportunities for not working
What are the different types of shift differentials?
overtime- 1.5 pay for anything after 40 hours
shift pay - for nightshift
hazard pay-
on-call pay-
call-back pay- called back to work for emergencies
geographic - offsets cost of living
weekend/holiday pay
, What is the Fair Labor Standards Act?
-commonly referred to as the Wage and Hour Law or FLSA
-sets minimum wage standards, overtime pay standards, and child labor restrictions
What is the difference between exempt status and non-exempt status?
Non-exempt employees are those who are covered by the minimum wage and overtime pay
provisions of the FLSA.Exempt Employees are exempt from the overtime requirements of the
Fair Labor Standards Act, such as outside salespeople and executives who have administrative
or managerial responsibilities.
Are non-discretionary bonuses included in a non-exempt employee's overtime pay calculation?
The regular rate of pay includes the basic hourly rate of pay plus any non-discretionary
bonuses, shift differentials, production bonuses, and commissions earned. yes it is calculated
into overtime
What is the purpose of the Family Medical Leave Act?
provide employees time off with no pay while dealing with major life events so they don't lose
their job
What is considered the Business Strategy?
the collection of decisions, approaches, and activities that allow an organization to compete and
win
What does a Cost Leadership Strategy emphasize?
emphasizes having a lower cost product or service as the highest priority throughout its
processes
How is differentiation strategy defined?
places a high priority on providing innovative, exceptional, and high-quality products and/or
services to customers
How does an organization use Niche-Focused Strategy?
organization chooses a small and segmented market and competes only in that small arena
