SPMT 262 EXAM 1 LATEST
Employee Retention and Why it Matters? - ANSWERS-It costs about
125% more than an employee's salary to find and train a candidate.
Churn is a massive financial drain and in a talent shortage, retention is
your strongest lever.
Reputation as Currency - ANSWERS-Investing in employer brand
reduces turnover by 28%, workers are less likely to join a company with
a bad reputation
The Retention Toolkit - ANSWERS-Onboarding, Policies, Training,
Recognition, Bonding, Flexibility
Mandated Benefits - ANSWERS-Benefits that a firm is required by law
to provide to its employees. These include Social Security, Medicare,
Unemployment Insurance, etc.
Non-Mandated Benefits - ANSWERS-Benefits that a firm isn't required
by law to provide, but still may do so internally. Things like paid
maternal leave, offering on-site services, etc.
Importance of Benefits - ANSWERS-57& of job seekers list benefits as
a top criterion, Benefits usually take 30% of a salary (30% Rule).
END OF
PAGE
1
, SPMT 262 EXAM 1 LATEST
Job Training - ANSWERS-Job-specific applications, equipment, and
processes. The objective of building up hard skills and immediate job
success.
Job Development - ANSWERS-The broad growth of soft skills,
leadership, and thinking. The objective of soft skills and long term
development.
The Corporate Lattice - ANSWERS-A workplace framework that is
more intricate, open, fluid, and interconnected than a corporate career
ladder.
The Pillars of Protection - ANSWERS-Federal laws that protect the
employee's relationship with the organization. Include categories like
Fairness & Rights, Wages, and Health.
Fairness and Rights Protections - ANSWERS-Wagner Act (1935):
Union protections
Title VII Civil Rights Act (1964): Anti-discrimination
ADA (1990): Anti-disability discrimination
END OF
PAGE
2
, SPMT 262 EXAM 1 LATEST
Wages and Security Protections - ANSWERS-Social Security Act
(1935): A protection for retirement
Fair Labor Standards Act (1938): Minimum wage, overtime pay, etc.
Health and Safety Protections - ANSWERS-OSHA (1970): Workplace
safety and regulations
FMLA (1993): Required 12 weeks unpaid maternity leave.
How do Unions Form? - ANSWERS-Requires 30% of employees to
sign an authorization card before the National Labor Relations Board
votes on it.
Benefits of a Union - ANSWERS-Negotiating wages, hours, and terms
collectively rather than as an individual.
Voluntary Exits - ANSWERS-Employees choosing to leave for better
opportunities, dissatisfaction etc.
Manager's role in Voluntary Exits - ANSWERS-Conducting exit
interviews and offboarding well to signal value to staff and those
exiting.
END OF
PAGE
3
Employee Retention and Why it Matters? - ANSWERS-It costs about
125% more than an employee's salary to find and train a candidate.
Churn is a massive financial drain and in a talent shortage, retention is
your strongest lever.
Reputation as Currency - ANSWERS-Investing in employer brand
reduces turnover by 28%, workers are less likely to join a company with
a bad reputation
The Retention Toolkit - ANSWERS-Onboarding, Policies, Training,
Recognition, Bonding, Flexibility
Mandated Benefits - ANSWERS-Benefits that a firm is required by law
to provide to its employees. These include Social Security, Medicare,
Unemployment Insurance, etc.
Non-Mandated Benefits - ANSWERS-Benefits that a firm isn't required
by law to provide, but still may do so internally. Things like paid
maternal leave, offering on-site services, etc.
Importance of Benefits - ANSWERS-57& of job seekers list benefits as
a top criterion, Benefits usually take 30% of a salary (30% Rule).
END OF
PAGE
1
, SPMT 262 EXAM 1 LATEST
Job Training - ANSWERS-Job-specific applications, equipment, and
processes. The objective of building up hard skills and immediate job
success.
Job Development - ANSWERS-The broad growth of soft skills,
leadership, and thinking. The objective of soft skills and long term
development.
The Corporate Lattice - ANSWERS-A workplace framework that is
more intricate, open, fluid, and interconnected than a corporate career
ladder.
The Pillars of Protection - ANSWERS-Federal laws that protect the
employee's relationship with the organization. Include categories like
Fairness & Rights, Wages, and Health.
Fairness and Rights Protections - ANSWERS-Wagner Act (1935):
Union protections
Title VII Civil Rights Act (1964): Anti-discrimination
ADA (1990): Anti-disability discrimination
END OF
PAGE
2
, SPMT 262 EXAM 1 LATEST
Wages and Security Protections - ANSWERS-Social Security Act
(1935): A protection for retirement
Fair Labor Standards Act (1938): Minimum wage, overtime pay, etc.
Health and Safety Protections - ANSWERS-OSHA (1970): Workplace
safety and regulations
FMLA (1993): Required 12 weeks unpaid maternity leave.
How do Unions Form? - ANSWERS-Requires 30% of employees to
sign an authorization card before the National Labor Relations Board
votes on it.
Benefits of a Union - ANSWERS-Negotiating wages, hours, and terms
collectively rather than as an individual.
Voluntary Exits - ANSWERS-Employees choosing to leave for better
opportunities, dissatisfaction etc.
Manager's role in Voluntary Exits - ANSWERS-Conducting exit
interviews and offboarding well to signal value to staff and those
exiting.
END OF
PAGE
3
