QUESTION 10 Which of the following is a disadvantage of using an above-market co

Question

QUESTION 10 Which of the following is a disadvantage of using an above-market compensation strategy? O a. A firm using this strategy incurs high labor costs O b. It encourages voluntary turnover among employces O c. Employees in firms using this strategy experience extemal inequity O d. It creates a culture of elitism and competitive superiority QUESTION 11 Which of the following statements is true of the Employee Retirement Income Security Act (ERISA)? O a. It allows an employce to carry a portion of his or her benefits to another job. O b. It prevents organizations from establishing private pension plans e It makes vesting rights operational after 4 years of service at the most. O d. It specifies which employees are covered by overtime provisions and which are exempt. QUESTION 12 Which of the following statements defines total compensation? to the compensation paid to employees for learning specific material that might be useful to the organization in the fuure Ob It refers to the overall value of inancial compensation plus the value of additional benefits that an organization provides to its I compensation plus the value of additional benefits that an organization provides to its employees. c. It is the set ofbenefits that individuals receive at different stages of their life. that covers or accident QUESTION 13 Which of the following statements is true of external inequity? O a Problems with external equity may result in dissatisfied and unhappy workens b. The most commonly used source of information conceming extermal equity is job evaluation. ??. It occurs when lower-level employees in a firm receive less incentives than the top executives. Od. Overpaying individuals for the value of their contributions can effectively solve external equity issues.

Explanation / Answer

10. An above market compensation strategy causes high labor cost for the company.

Answer: Option a

11. ERISA prevents organizations from establishing private pension plans.

Answer: Option b

12. Total compensation is the overall financial compensation and the basket of benefits.

Answer: Option b

13. Problems with external inequity may result in dissatisfied and unhappy workers.

Answer: Option a

16. The classification system of job evaluation assumes that a constant and inflexible relationship exists between job factors and their value to an organization.

Answer: Option c

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