Total Rewards Management ACTUAL QUESTIONS AND CORRECT ANSWERS

Total Rewards Management ACTUAL
QUESTIONS AND CORRECT ANSWERS
Compensation - Correct answers✔✔Pay provided by an employer to an employee for services
rendered (time, effort, skill). This includes both fixed and variable pay tied to performance
levels.



Benefits - Correct answers✔✔Programs an employer uses to supplement the cash compensation
that employees receive. These health, income protection, savings and retirement programs
provide security for employees and their families.



Work-life Effectiveness - Correct answers✔✔A specific set of organizational practices, policies,
and programs, plus a philosophy that actively supports efforts to help employees achieve success
at both work and home.



Recognition - Correct answers✔✔Acknowledges or gives special attention to employee actions,
efforts, behavior or performance and supports business strategy by reinforcing certain behaviors
(e.g. extraordinary accomplishments) that contribute to organizational success. These programs
can be either formal or informal.



Performance Management - Correct answers✔✔The alignment of organizational, team, and
individual efforts toward the achievement of business goals and organizational success. It
includes establishing expectations, skill demonstration, assessment, feedback, and continuous
improvement.



Talent Development - Correct answers✔✔Provides the opportunity and tools for employees to
advance their skills and competencies in both their short and long term careers. Organizations
support career opportunities to effectively deploy talent employees, enabling them to deliver
their greatest value to the organization.

,Key Players in Total Rewards Strategy- Senior Management/BOD - Correct
answers✔✔Typically approves the strategy. BOD approves officer competition. Involvement is
important for buy-in and ownership.



Key Players in Total Rewards Strategy- HR Leadership - Correct answers✔✔Articulates the HR
strategy, HR staff is instrumental in facilitating the process, total rewards management.



Key Players in Total Rewards Strategy- Employees - Correct answers✔✔Internal, external or
exit surveys may provide guidance in identifying the relative importance of total rewards
elements to various employee groups



Key Players in Total Rewards Strategy- Outside Consultants - Correct answers✔✔If outside
consultants are to be used, they would work closely with HR to facilitate the process



Total Rewards Approach - Correct answers✔✔Attract, Motivate, Engage, Retain



Attract - Correct answers✔✔Total Rewards Approach- ability an organization has to deal the
right kind of talent necessary to achieve organization success.



Motivate - Correct answers✔✔Total Rewards Approach- ability to cause employees to behave in
a way that achieves the highest performance levels. Includes Intrinsic Motivation and Extrinsic
Motivation



Engage - Correct answers✔✔Total Rewards Approach- Refers to the highest level of
commitment of discretionary effort. Employee typically experiences a heightened positive
emotional connection to the organization and its people.



Examples of Employee Engagement - Correct answers✔✔Aligning one's individual values with
those the organization

, Examples of Employee Engagement - Correct answers✔✔Experiencing a strong connection to
the organization



Examples of Employee Engagement - Correct answers✔✔Demonstrating strong commitment to
the organization



Examples of Employee Engagement - Correct answers✔✔Showing passion for the organization
and its vision and mission



Examples of Employee Engagement - Correct answers✔✔Feeling invested in outcomes



Retain - Correct answers✔✔Total Rewards Approach- Organization ability to keep employees
who are valued contributors to organization success for as long as is mutually beneficial.



Advantages of Total Rewards approach - Correct answers✔✔Higher profitability, lower labor
costs, greater flexibility



Drivers of Total Rewards Strategy - Correct answers✔✔Business strategy, organizational culture,
HR strategy



Elements of Compensation - Correct answers✔✔Fixed pay and variable pay



Fixed pay - Correct answers✔✔AKA base pay, is non discretionary compensation that does not
vary according to performance or results achieved.