Employee Rewards
Employee Rewards Knowledge Quiz
Test your understanding of employee rewards and compensation strategies with our comprehensive quiz. This engaging quiz will challenge your knowledge of key concepts, methodologies, and best practices that shape the world of total rewards.
- 49 thought-provoking questions
- Multiple choice format
- Immediate feedback on your answers
Are these elements included in total rewards?
Both of them
Performance Management
Recognition
None of them
Car allowance is part of
Total Cash
Variable Pay
Benefit or Perk
None of them
Which of those is the bigger and include the others
Total remuneration
LTI
Benefits
Total Cash
Ideally…
External equity is better
We must try to balance both
Internal equity is better
In most situations, internal is better
Individual approach vs Job approach is…
Better when the job doesn't change often
When the market is changing and we must adapt our organization
In companies with low turnover costs
All of them
Elitism is more common in organizations that…
Well established organization
Many org and managerial levels
Stable market and low competition
All of them
You will adopt above market policy
You don't care about turnover cost
You will recruit in an oversupply market
You want to hire the best and grow
You used to recruit in the US
Which is the most extended job evaluation approach?
Performance approach
Job Based Approach
Skill based approach
Compensable factor ranking
A company with a job evaluation skill based approach…
Reduce the training cost compare to job-based approach
Have a lot of comparable surveys data in the market
Create a more flexible workforce
Avoid to have “rusty skills”
What is the main output of job-based evaluation approach
Internal structure or hierarchical ranking of jobs
Salary bands
Compensation grades
A full list of job description of the company
Which of these methodologies has external focus?
Market pricing
Ranking method
Factor comparison method
Classification Method
The first step of a job evaluation process is…
Define all job description of the company
Create a job evaluation committee
Define the methodology and approach
Plan interviews with the executives and after this, all the managers
When you are performing job evaluation…
It’s better to decentralize the process
The results are only for evaluation committee
You are assessing jobs, not people
None of them
Job posting characteristics are…
Its shorter than a job description
Its focus to sell the job
Its use for external advertisement
All of them
Job specifications are…
Responsibilities and duties
Area of influence and reports
Characteristics that a person must have to perform successfully the job
Number of positions in the organization and skills required
The lowest consistency among market surveys type is:
Free/open surveys
Published
Ad-hoc by consultant
Do it by myself’
Usually in the Global Annual surveys you will find values for
Only base pay
Base pay and LTI
Base pay and STI
Base pay, STI, LTI and Benefits
The correct order for an external equity process is…
1.) Job Matching 2.) Select Survey 3.) Pay Mix 4.) Pay Level
1.) Select Survey 2.) Job Matching 3.) Pay Level 4.) Pay Mix
1.) Select Survey 2.) Job Matching 3.) Pay Mix 4.) Pay Level
1.) Pay Level 2.) Select Survey 3.) Pay Mix 4.) Job Matching
Regarding pay level policies
Your selection will be similar in all the geographies
Must be similar for the 3 elements; Base Pay, Variable and Benefits
It's always better to lead in Base Pay
It will vary among geographies and elements
Benefits and Perks
STI is a perk
Gym Allowance is a perk
Internet allowance is a benefit
Severance allowance is a perk
Regarding published surveys…
The cost is high
It has a medium-high consistency
It will have confidentiality problems
None are correct
Perks are…
Travel allowance
All of them
Car allowance
None of them
Our compensation mix compared vs Market is linked to…
Number of employees you have
Number of salaries to pay
Employee value proposition
Number of levels in your organization
Benefits (not perks) are…
Car allowance
Life insurance and gym
Retirement plan and cantina
Retirement plan and medical leave
What is happening in a sector that has big increases each year, most of the companies…
Are growing and they have a lack of candidates
Review their pay policies at least every year
Are selecting market lead pay policies
All of them
In a company compensation policy…
All pay grades have the same range spread
Core capabilities are the only one to retain
All career ladders must have the same pay level
None of them are correct
Band spread is…
The distance between mid and minimum
The distance between maximum and minimum
The distance between maximum and mid
None of them are correct
Compa-ratio is a comparison between individual compensation and…
The average in the market
The maximum of your band
The mid point of your band
The minimum of your band
The best progression criteria to be applied in a tech start up is…
Skills and performance
Performance only
Seniority and skills
A right mix of these three, according to sector and strategy
When you design a compensation plan, it’s key…
Assure employees and managers voice as an key input
Depends only on job evaluation committee
Owner mentality because it's the most aligned with culture
HR must take their own decisions
Pay anomaly is…
A salary within maximum and mid point
People in technical ladder compensation policy
Those base salary cases that are out of the bands
None of them
As much elitism your compensation policy company is, as…
Bigger is your band spread
Bigger is the midpoint to midpoint differential
Bigger are you salaries
None of them
Is Perquisites (Perks) included in Total Cash
No
Yes
It depends on the perk
Some of them
Select which of these are a part of INTANGIBLE reward
Stock options
Club Allowance
Work/life balance
Variable
The perspective of managers about compensation…
Compensation provides financial security
It’s a global measure of justice
Supports them to improve performance and right behaviors
They think that executives
A system that correlates salary positioning and performance to propose salary increases is…
Band spread
Salary allowance
Salary increase matrix
Range overlap
Compa-ratio is
Compa-ratio will be more than 1
Its 100% when you are at the minimum
Its formula is employee pay/midpoint
All of them are incorrect
A target positioning in bands for a sustained outstanding performer will be…
90%
80%
100%
110-120%
Range penetration is
It’s 100% when you are at the maximum
It’s formula is -(employee pay-min)/(max-min)
It's the % of the band that you have already achieved
All of them are correct
In order to design a variable system “fit for purpose” on a company, you must take into account
Culture of your company
Countries where you are located
Sector and business segment
All of them
Variable system drivers: Vesting period is…
The time in which the variable is paid
The time required to be consolidated
Period when we assign target amounts
None of them
The four main internal characteristics to design a variable system are…
Performance system, budget, population and managers
Controllability, alignment, simplicity and demand pricing
Target, period, systems and budget
None of them
The link between variable pay and performance will be…
Mathematical
A mix of mathematical and subjective
Subjective
All of them are possible
The annual incentive calculated mathematically is more common in…
Executives pay
Commercial workforce
Expatriates
White-collar
A type of bonus is
Gain sharing
Hiring
Profit sharing
All of them are correct
A defined variable compensation that rewards looking forward objectives is…
Retention bonus
Referral bonus
Bonus
Incentive
As a % what is the concept bigger in an executive pay…
Perks
Benefits
Variable
Base Pay
A bonus equal to the increase of the price of the stock is a certain period is…
Stock options
Stock appreciation rights
Restricted stock units
Stock incentive bonus
A variable system characteristic are
Will not be zero
Must be fair better than coherent
Must be always calculated mathematically
None of them
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