HRM3705 - Compensation Management ACTUAL EXAM QUESTIONS
Compensation Management in HRM
WITH ACCURATE AND VERIFIED ANSWERS,100% CORRECT!!
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The complete pay package that includes
Total Compensation direct pay, benefits, and any other forms
of compensation.
A set of beliefs and principles that guide
Compensation Philosophy an organization's approach to compen-
sation and rewards.
The monetary payment received by em-
Direct Compensation ployees, determined through job evalua-
tion and market pricing methods.
A compensation approach that pays em-
Skill-Based Pay ployees based on their skills and compe-
tencies rather than their job title.
Compensation structures that reward
Individual Incentive Pay Systems individual performance, often through
bonuses or commissions.
The practice of keeping employee com-
pensation information confidential, which
Pay Secrecy
has both advantages and disadvan-
tages.
Cash and non-cash rewards employee
Compensation Management
receive in exchange for their work.
Includes wages paid and variable pay
Direct compensation such as bonuses, commissions, and
stocks.
Includes employee benefits and ser-
Indirect compensation
vices.
Total amount versus amount compared
Absolute and relative pay
to others.
Performance, motivation, and satisfac-
tion may decline dramatically; turnover
Compensation perceived inappropriate
may occur; dissatisfaction with absolute
or relative pay.
Includes base wages, variable pay, perks
Total Compensation and on-site amenities, status/recogni-
tion, and benefits.
1/3
Compensation Management in HRM
WITH ACCURATE AND VERIFIED ANSWERS,100% CORRECT!!
Study online at https://quizlet.com/_h33gsq
The complete pay package that includes
Total Compensation direct pay, benefits, and any other forms
of compensation.
A set of beliefs and principles that guide
Compensation Philosophy an organization's approach to compen-
sation and rewards.
The monetary payment received by em-
Direct Compensation ployees, determined through job evalua-
tion and market pricing methods.
A compensation approach that pays em-
Skill-Based Pay ployees based on their skills and compe-
tencies rather than their job title.
Compensation structures that reward
Individual Incentive Pay Systems individual performance, often through
bonuses or commissions.
The practice of keeping employee com-
pensation information confidential, which
Pay Secrecy
has both advantages and disadvan-
tages.
Cash and non-cash rewards employee
Compensation Management
receive in exchange for their work.
Includes wages paid and variable pay
Direct compensation such as bonuses, commissions, and
stocks.
Includes employee benefits and ser-
Indirect compensation
vices.
Total amount versus amount compared
Absolute and relative pay
to others.
Performance, motivation, and satisfac-
tion may decline dramatically; turnover
Compensation perceived inappropriate
may occur; dissatisfaction with absolute
or relative pay.
Includes base wages, variable pay, perks
Total Compensation and on-site amenities, status/recogni-
tion, and benefits.
1/3
