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

Compensating employees equally regardless of their performance.

Adjusting compensation according to the cost of living.

Ensuring fairness in the relationship between an employee's efforts and rewards.

Providing non-monetary rewards to employees.

What is the purpose of a compensation survey?

To establish internal equity within the organization.

To determine the cost of living adjustments for employees.

To collect information about compensation rates from the market.

To evaluate employee productivity.

What is the primary purpose of compensation management in an organization?

To create a hierarchical structure for employees.

To design and maintain a pay system to improve organizational performance.

To reduce absenteeism and turnover.

To establish a rigid compensation package for all employees.

What is the key characteristic of the "Broad banding" compensation approach?

Assigning specific pay rates to each individual skill.

Dividing salary ranges into a small number of wider pay bands.

Linking compensation to individual performance.

Providing non-monetary benefits to employees.

What is the primary goal of a "Comparable Worth" compensation method?

To link compensation to individual performance.

To establish a cafeteria-style benefits package.

To ensure equitable compensation regardless of gender, race, or class.

What is the main purpose of a Performance-Linked Incentive (PLI)?

To provide a fixed salary increase for employees.

To reward employees for their potential and skills.

To incentivize employees based on their individual performance results.

To provide additional benefits to employees.

Why is safety education important in employee safety programs?

To monitor employees' performance.

To impose strict rules and regulations.

To develop employees' skill in operating safety equipment.

To foster safety consciousness and safe work habits among employees.

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