Compensation Strategies and Practices
The concept in which the whole or part of yearly pay increase is paid as single payment, is called
consumer price index adjustment
lump sum increase
cost of living adjustment
all of the above
all of the above
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The tangible components of compensation programs usually designed by the organization consists ofA. indirect compensation
B. recency compensation
C. direct compensation
D. both A and C
The compensation quartile strategy in which 50% of employers pays below than market and remaining pays compensations higher than market is called
A. second quartile strategy
B. first quartile strategy
C. forth quartile strategy
D. third quartile strategy
The compensation given with the base pay linked to individual team or organizational performance is classified as
A. variable pay
B. salaries
C. base pay
D. wages
According to traditional compensation approach, the perks and bonuses are
A. for CEO only
B. for all employees
C. for executive only
D. not for executives
The key issues related to internal equity are
A. distributive justice
B. procedural justice
C. primacy justice
D. both A and B
The systematic way of determining the worth of all the jobs within any organization is called
A. compensable evaluation
B. job evaluation
C. benchmark job
D. job promotion structure
In an organization, the base pay is classified as being part of
A. direct compensation
B. primacy compensation
C. indirect compensation
D. recency compensation
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