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Test: Compensation and Maintenance of Employees-1 - B Com MCQ


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10 Questions MCQ Test Human Resource Management - Test: Compensation and Maintenance of Employees-1

Test: Compensation and Maintenance of Employees-1 for B Com 2024 is part of Human Resource Management preparation. The Test: Compensation and Maintenance of Employees-1 questions and answers have been prepared according to the B Com exam syllabus.The Test: Compensation and Maintenance of Employees-1 MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Compensation and Maintenance of Employees-1 below.
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Test: Compensation and Maintenance of Employees-1 - Question 1

What does the term "Equity consideration" in compensation refer to?

Detailed Solution for Test: Compensation and Maintenance of Employees-1 - Question 1
Equity consideration involves ensuring fairness in the relationship between what an employee does (input) and what the employee receives (output) in terms of compensation. It's about maintaining a balance between the efforts an employee puts in and the rewards they receive.
Test: Compensation and Maintenance of Employees-1 - Question 2

Which of the following external factors affects compensation?

Detailed Solution for Test: Compensation and Maintenance of Employees-1 - Question 2
Union pressure plays a role in determining compensation. Unions negotiate with organizations to achieve favorable compensation terms for employees through collective bargaining. Union pressure can influence the compensation structure.
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Test: Compensation and Maintenance of Employees-1 - Question 3

What is the purpose of a compensation survey?

Detailed Solution for Test: Compensation and Maintenance of Employees-1 - Question 3
A compensation survey collects data about compensation rates from the market to understand how an organization's pay structure compares to industry standards. This helps organizations make informed decisions about employee compensation.
Test: Compensation and Maintenance of Employees-1 - Question 4
What is the primary purpose of compensation management in an organization?
Detailed Solution for Test: Compensation and Maintenance of Employees-1 - Question 4
Compensation management aims to design, implement, and maintain a pay system that enhances organizational performance. It involves creating a structure that rewards employees based on their contributions and motivates them to excel in their roles.
Test: Compensation and Maintenance of Employees-1 - Question 5
Which of the following is a type of direct compensation?
Detailed Solution for Test: Compensation and Maintenance of Employees-1 - Question 5
Stock options are a form of direct compensation that allows employees to purchase company stock at a predetermined price. It's a performance-based reward that incentivizes employees to contribute to the organization's success.
Test: Compensation and Maintenance of Employees-1 - Question 6
Which method involves ranking jobs from simplest to most complex in terms of difficulty?
Detailed Solution for Test: Compensation and Maintenance of Employees-1 - Question 6
Job ranking method involves ranking jobs based on their relative difficulty, from the simplest to the most complex. This helps establish a hierarchy of jobs within an organization.
Test: Compensation and Maintenance of Employees-1 - Question 7
What is the key characteristic of the "Broad banding" compensation approach?
Detailed Solution for Test: Compensation and Maintenance of Employees-1 - Question 7
Broad banding involves reducing the number of salary ranges into a smaller number of wider pay bands. This approach provides more flexibility in assigning compensation based on an employee's skills and job responsibilities.
Test: Compensation and Maintenance of Employees-1 - Question 8
What is the primary goal of a "Comparable Worth" compensation method?
Detailed Solution for Test: Compensation and Maintenance of Employees-1 - Question 8
The "Comparable Worth" method aims to ensure equitable compensation by valuing jobs based on their worth, regardless of factors like gender, race, or class. This helps prevent discrimination in compensation.
Test: Compensation and Maintenance of Employees-1 - Question 9
What is the main purpose of a Performance-Linked Incentive (PLI)?
Detailed Solution for Test: Compensation and Maintenance of Employees-1 - Question 9
A Performance-Linked Incentive (PLI) is designed to incentivize employees based on their actual performance results, rather than their potential or skills. It's directly tied to the outcomes they achieve.
Test: Compensation and Maintenance of Employees-1 - Question 10
Why is safety education important in employee safety programs?
Detailed Solution for Test: Compensation and Maintenance of Employees-1 - Question 10
Safety education is crucial to employee safety programs because it helps foster safety consciousness and encourages employees to develop safe work habits. It empowers them with the knowledge and skills needed to operate safety equipment and follow safe procedures.
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