GR1 Sample Questions Answers

Because programs can be added and/or withdrawn with little employee resistance

Because incentive plans can be designed by work group or unit as well as separately for each employee

Because the mix of rewards offered can be tailored according to the organization's specific challenges

The corporate mission

The business strategy

The compensation strategy

The corporate vision

General

Cost of living

Automatic

Merit

The corporate mission

The human resources strategy

Program design and administration

The business strategy

Deductible

Coinsurance

Coordination of benefits

Out-of-pocket expenses

They include incentives that are paid out at certain times of the year

They identify the actual compensation paid to each employee

They may overlap with minimums and maximums falling within adjoining grades

They represent the difference between the midpoint and the maximum of a given salary grade

Coaching

Assessing

Rewarding

Grading

Pay for time not worked

Hourly pay

Bonuses

Piece rate

Quality

Quantity

Time

Process

They require complex actuarial calculations and assumptions.

The benefit is based on a formula that considers pay and service.

They generally provide better benefits to employees with longer service.

The employee assumes the risk for the investments.

The most that the member will be liable for in relation to co-insurance

The maximum the plan will pay if the member is covered by another insurance plan

The limit the member will be required to pay at each doctor visit

The lifetime limit for benefits to any one employee

Hourly rate

Salary

Piece rate

Bonuses

Intrinsic

Extrinsic

Plans for succession of roles and responsibilities of a particular position

Opportunities that promote career moves into competing organizations

Plans that may include advancement into more responsible positions within the organization

Opportunities for employees to apply for open positions during a reduction in force

Avoid discussing them

Focus the entire appraisal on the areas that need attention

Balance every deficiency with a compliment, even if the compliments are for minor accomplishments

Provide specific information about deficiencies that affect performance

The human resources strategy

The business strategy

The business vision

The total rewards strategy

The experience required to achieve the goal or objective

The reward that can be earned

The time required for satisfactory performance

The expected outcome

Hourly rate

Salary

Piece rate

Production rate

A portion of one's salary paid during reserve duty and military leave

A practice of paying a lump sum to employees during a company shutdown

A continuation of an employee's salary after termination

A continuation of a portion of an employee's salary to a beneficiary after the death of an employee

Job analysis

Job documentation

Job evaluation

Job worth hierarchy

Financial support

Community involvement

Workplace flexibility

Use of paid time off

It usually is a secondary consideration in compensation design.

It is the company's plan for competitive positioning of its products or services.

It must be written after the company's operating plans are approved by senior management.

It is developed for compensation, benefits and the work-life using the HR strategy as a basis.

There is no promise of a specific benefit at retirement.

Individual accounts must be maintained for each participant.

They are often integrated with government-sponsored programs.

Employees are at risk for financial resources.

A contribution of money to a nonprofit entity where a company employee volunteers

A donation of vacation time to others facing emergency situations

An arrangement to ensure adequate coverage of service during employees' vacations

An executive loan to worthy organizations for a period of time