WGU C236 Compensation & Benefits Questions and Answers Already Passed

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WGU C236 Compensation & Benefits Questions and Answers Already Passed Internal Reward Alignment ✔✔The extent to which an organization's Total Rewards System aligns each employee's rewards with ... those received by others in the organization. Job-based approach ✔✔to internal reward alignment assumes that organizations provide rewards based upon the job that a person holds. Individual-based approach ✔✔assumes that rewards should be based upon the characteristics of the person holding a job. Performance-based approach ✔✔assumes that rewards should be based upon the performance or results produced by an employee. Job structure ✔✔A Job Structure is an organized listing of the business's jobs that functionally groups and hierarchically arranges the jobs for rewards purposes. Job-value structure ✔✔represents the structure of jobs internally positioned according to their relative value. Job analysis ✔✔yields a catalogue of job descriptions. Job descriptions ✔✔that detail the work done in the organization. Compensable Factor ✔✔Job elements or criteria that identify what the organization values for purposes of job evaluation. Identifying compensable factors is step one in the Point factor Approach. Benchmark Jobs ✔✔Sample of jobs that is representative of the type, content and level of jobs in the organization. Rating scales ✔✔Tools used to measure compensable factors in step two of the Point Factor Approach. Rating scales include Graphic Rating Scales, Anchored Rating Scales, and Variable Distance Scales. Anchored rating ✔✔Uses example or definitions of typical behaviors to define each point along the scale. Scale ✔✔Uses examples or definitions of typical behaviors to define each point along the scale. Variable Distance Scale ✔✔Uses different point distances between each level in the scale which allows an organization to measure compensable factors in a way that takes into account the "natural breaks" in the factor being measured. Factor Weighting ✔✔The process of deciding how important compensable factors are to the organization. It is Step Three in the Point Factor Approach to job evaluation. Face validity ✔✔The extent to which the system produces relative job values that appear to be accurate and credible. This concept is applied during Step Four of the Point Factor Approach to job evaluation. Pay grades ✔✔Put jobs into categories that are treated as a group for reward purposes. Value-Reward line ✔✔The resulting line when regression is used to estimate the line summarizing the relationship between Job Evaluation Points and a compensation metric. Scatterplot ✔✔A graphic tool used to display the relationship between two quantiative variables using X and Y axis. External Reward Positioning ✔✔refers to how an organization's Rewards compare to the Rewards offered for comparable work in other organizations. External Equity ✔✔External equity refers to employee perceptions regarding the worth of their work conditions and rewards compared to the work conditions and rewards of individuals outside the company. Reward-level Strategy ✔✔Refers to the extent to which a company will pay above, at, or below the market average. Reward strategy line ✔✔The extent to which a company will pay above, at, or below the market average, shown in graphical form. Job-Specific Reward Level Strategy ✔✔establishing different Reward Level Strategies for different job families or hierarchical levels. Pay Form-Specific Reward Strategies ✔✔Varying pay-level strategies across reward types. Static ✔✔Didn't change much overtime Individualistic Environment ✔✔where work is done independently by single employees reporting to a single supervisor Linear Careers ✔✔where employees can expect to spend the duration of their careers with a single organization Dynamic Role-based ✔✔The work employees do changes on a regular basis Collaborative Environment ✔✔in which teams of [Show More]

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