WGU C236 Compensation and Benefits Comprehensive Exam (2024) || With Questions & Answers (Graded A+)

WGU C236 Compensation and Benefits Comprehensive Exam (2024) || With Questions & Answers (Graded A+) WGU C236 Compensation and Benefits Comprehensive Exam (2024) || With Questions & Answers (Graded A+) Define Total Rewards. - ANSWER - 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? - ANSWER - -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. - ANSWER - like a retirement plan List an example of an intangible benefit. - ANSWER - like meaningful work and rewarding relationships How will this course help HR Managers? - ANSWER - 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. - ANSWER - monetary pay that employees receive in exchange for their work What is base pay? - ANSWER - salary or hourly wages. What is variable pay? - ANSWER - 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? - ANSWER - higher performance Define the concept of Organizational Citizenship Behaviors. - ANSWER - value-creating activities in which employees engage but which are not part of their job What is an example of an Organizational Citizenship Behavior? - ANSWER - Employees who go beyond their defined responsibilities to help a colleague at work What three areas contribute to the overall performance of an organization? - ANSWER - Employee performance, team performance, and OCBs What can Organizational Performance include? - ANSWER - 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