STRATEGIC COMPENSATION A HUMAN RESOURCE MANAGEMENT UPDATED ACTUAL QUESTIONS AND CORRECT ANSWERS COMPLETE STUDY GUIDE FULL SOLUTION

STRATEGIC COMPENSATION A HUMAN
RESOURCE MANAGEMENT UPDATED
ACTUAL QUESTIONS AND CORRECT
ANSWERS COMPLETE STUDY GUIDE FULL
SOLUTION

●● intrinsic
Answer: intrinsic compensation represents employees' critical
psychological states that result from performing their job


●● Extrinsic
Answer: extrinsic compensation includes both monetary and non
monetary 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.


●● competitive business strategy
Answer: The planned use of company resources—financial capital,
equipment capital, and human capital— to promote and sustain
competitive advantage

, ●● Human Resource Strategies
Answer: use of multiple HR practices to reinforce competitive business
strategy


●● Strategic Decisions
Answer: -competitive strategy
-human resource strategy
-compensation strategy


●● General Tactical HR Decisions
Answer: recruitment, selection, performance appraisal, compensation,
training


●● Specific Tactical HR Decisions (compensation examples)
Answer: -seniority pay, merit pay, incentive pay, pay for knowledge,
skill-based pay, broad banding, two-tier pay structures, discretionary
benefits options


●● Capital
Answer: refers to the factors that enable companies to generate income,
higher stock prices, economic value, and reputation