NAME: ________________________

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5 Written Questions

5 Matching Questions

  1. Comp time
  2. Profit sharing is an example of what kind of pay?
  3. Three types of quartile strategies companies use to determine thier pay level
  4. Do training and travel time count as work time?
  5. How much is the overtime rate?
  1. a Time off with pay given to the employee instead of overtime pay
  2. b 1.5 times the normal pay rate for all hours over 40/week an employee works
  3. c Variable pay
  4. d •Meet the market
    •Lag the market
    •Lead the market
  5. e Yes

5 Multiple Choice Questions

  1. Paying on average with similar companies in the market, balances employer cost pressures and the need to attract employees
  2. Using Below-market levels because of low funds, an abundance of workers, good benefits; it increases turnover
  3. Companies are moving away from traditional compensation towards total compensation involving pay for performance
  4. Higher than average pay, attracts better workers
  5. Establishes a minimum wage
    •Child labor rules
    •Overtime rules

5 True/False Questions

  1. Contribution to employee health care accounts is an example of what kind of pay?Variable pay

          

  2. Exempt vs. non-exempt employeesExempt employees are not required to be paid overtime, nonexempt have to be paid overtime

          

  3. National Labor Relations ActEstablishes a minimum wage
    •Child labor rules
    •Overtime rules

          

  4. When an employer wants to pay employees for what theyre capable of and not what theyre actually doing, they want to use these pay systemsHas a positive affect on employee retention and org effectiveness

          

  5. What effect does an open pay system have on the organization?Has a positive affect on employee retention and org effectiveness

          

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