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5 Written questions

5 Matching questions

  1. How are compensation practices changing?
  2. Profit sharing is an example of what kind of pay?
  3. Exempt vs. non-exempt employees
  4. Leading the market
  5. Do training and travel time count as work time?
  1. a Exempt employees are not required to be paid overtime, nonexempt have to be paid overtime
  2. b Companies are moving away from traditional compensation towards total compensation involving pay for performance
  3. c Higher than average pay, attracts better workers
  4. d Variable pay
  5. e Yes

5 Multiple choice questions

  1. $7.25
  2. •Comp time off
    •Incentives for non exempt employees
    •Training time
    •Travel time
  3. Paying on average with similar companies in the market, balances employer cost pressures and the need to attract employees
  4. Pays for what the actual job is worth to the company
  5. •Meet the market
    •Lag the market
    •Lead the market

5 True/False questions

  1. To calculate overtime•Calculate hourly rate
    •Multiply hourly rate by 1.5, this is overtime rate
    •Multiple overtime rate by hours of overtime worked
    •Add this overtime pay to normal weekly pay


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


  3. Fair Labor Standard ActAllows workers to talk to each other about their pay


  4. Competancy payPays for what the actual job is worth to the company


  5. Lagging the marketUsing Below-market levels because of low funds, an abundance of workers, good benefits; it increases turnover


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