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5 Written Questions

5 Matching Questions

  1. Three types of quartile strategies companies use to determine thier pay level
  2. To calculate overtime
  3. Contribution to employee health care accounts is an example of what kind of pay?
  4. How much is the overtime rate?
  5. What effect does an open pay system have on the organization?
  1. a •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. b 1.5 times the normal pay rate for all hours over 40/week an employee works
  3. c •Meet the market
    •Lag the market
    •Lead the market
  4. d Benefit
  5. e Has a positive affect on employee retention and org effectiveness

5 Multiple Choice Questions

  1. Higher than average pay, attracts better workers
  2. Require overtime payment and prevailing wage for any employee hours worked over eight hours in one day; applies only to federal contracts, not the private sector
  3. Paying on average with similar companies in the market, balances employer cost pressures and the need to attract employees
  4. Rewards employees for what they are capable of doing, instead of what they actually do on the job
  5. Exempt employees are not required to be paid overtime, nonexempt have to be paid overtime

5 True/False Questions

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

          

  2. How are compensation practices changing?1.5 times the normal pay rate for all hours over 40/week an employee works

          

  3. What is the current minimum wage?1.5 times the normal pay rate for all hours over 40/week an employee works

          

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

          

  5. Do training and travel time count as work time?1.5 times the normal pay rate for all hours over 40/week an employee works

          

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