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Exam 11: Pay for Performance and Employee Benefits

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Question 1

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Gainsharing plans involve putting some portion of an employee's weekly pay at risk for the opportunity to earn incentives if the employee meets or exceeds his or her goals.

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Question 2

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What is the main benefit of paying salespeople a combination of salary and commission?

A) limiting the firm's risk of overly high commissions
B) aligning employee goals and company strategy
C) providing simple salary administration
D) clearly linking pay with performance

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Question 3

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Which of the following would most likely be used by a firm that wants to retain the services of a top manager for a specified period of time?

According to the Comprehensive Omnibus Budget Reconciliation Act,how long are most employers required to make health benefits available to terminated or retired employees?

Jenny's pension plan encourages her to contribute at least 5% of her annual salary in addition to the set amount that her company contributes.She is given choices regarding how the money is invested.When she retires,the amount she has available will depend on how much she invested herself,and the rate of return on the investments she chose.This pension plan would be classified as ________.

During difficult economic times,employers have to cut costs.What are some strategies for minimizing the costs associated with employee health care? What no-cost or low-cost methods are available to employers who want to recognize and reward hard-working employees?

An earnings-at-risk pay plan bases employee pay and bonuses on ________.

What is the most likely reason that firms are implementing group incentive plans?

All of the following are examples of organization-wide incentive plans EXCEPT ________.

Which of the following is considered a hybrid of defined benefit and defined contribution plans?

Upon being hired as a marketing representative at Argo Pharmaceuticals,Shelly agreed to forego 10% of her normal pay if she failed to meet performance goals.In return,Shelly will receive a 10% bonus if she meets her goals and 13% if she exceeds her goals.In what type of plan does Shelly most likely participate?

A manager can best control the cost of unemployment insurance by ________.

According to research,which of the following has a significant impact on employee engagement?

When employers offer domestic partner benefits to employees,it means that employees' same-sex domestic partners are eligible to receive the same benefits as do the husband,wife,or legal dependent of one of the firm's employees.

Which incentive plan is based on a philosophy that managers and employees must cooperate together?

Angelo,a process engineer with Global Semiconductor,is following a technical path rather than a management path at the firm.Which of the following has most likely been implemented by Global Semiconductor?

The primary purpose of ________ is to enable employees to balance work and family obligations.

Tyrone,a data entry clerk,is paid a basic hourly rate.He receives an extra percentage of his rate when his productivity is above normal.Which incentive plan is most likely used by Tyrone's employer?

Most gainsharing plans include all of the following features EXCEPT ________.

Furman,an automotive parts manufacturer,employs nearly 800 workers in its Dallas,Texas facility.Furman has always offered its employees health and dental insurance as well as legally required benefits such as unemployment insurance and workers' compensation.Furman's top executives are considering the idea of offering employees a flexible benefits plan.Which of the following,if TRUE,best supports the argument that Furman should offer employees a flexible benefits plan?