Test Bank for Strategic Compensation, 10th Edition, Joseph J. Martocchio

Product details:

• ISBN-10 ‏ : ‎ 0135192145
• ISBN-13 ‏ : ‎ 978-0135192146
• Author:

For graduate and undergraduate courses in compensation, staffing, and human resources. The art and science of compensation practice. Strategic Compensation: A Human Resource Management Approach illustrates the art and science of compensation practice and its role in promoting a company’s competitive advantage. The seventh edition was thoroughly revised, and now includes current statistics and a new chapter offering the latest information to compensation professionals.

Table contents:

1. I Setting the Stage for Strategic Compensation
2. 1 Strategic Compensation A Component of Human Resource Systems
3. Learning Objectives
4. Defining Strategic Compensation
5. What Is Compensation?
6. What Is Strategic Compensation?
7. Compensation as a Strategic Business Partner
8. Strategic Compensation Decisions
9. Competitive Business Strategy Choices
10. Lowest-Cost Strategy
11. Differentiation Strategy
12. Compensation Decisions that Support the Firm’s Strategy
13. Employee Roles Associated with Competitive Strategies
14. Building Blocks and Structure of Strategic Compensation Systems
15. Building Blocks: Core Compensation and Employee Benefits
16. Core Compensation
17. Employee Benefits
18. Fundamental Compensation System Design Elements
19. Internal Consistency
20. Market Competitiveness
21. Recognizing Employee Contributions
22. Alternative Pay Structure Configurations
23. Fitting the Compensation Function in an Organization’s Structure
24. How HR Professionals Fit into the Corporate Hierarchy
25. The Compensation Profession
26. How the Compensation Function Fits into HR Departments
27. Compensation, Recruitment, and Selection
28. Compensation and Performance Appraisal
29. Compensation and Training
30. Compensation and Career Development
31. Compensation and Labor–Management Relations
32. Compensation and Employment Termination
33. Compensation and Legislation
34. Stakeholders of the Compensation System
35. Employees
36. Line Managers
37. Executives
38. Unions
39. U.S. Government
40. Developing Skills for Your Career
41. Communication
42. Critical Thinking
43. Collaboration
44. Knowledge Application and Analysis
45. Business Ethics and Social Responsibility
46. Information Technology Application and Computing Skills
47. Data Literacy
48. Preparing for Exams/Quizzes
49. Chapter Summary by Learning Objectives
50. Key Terms
51. Discussion Questions
52. Preparing for My Career
53. Compensation in Action
54. Action checklist for line managers and HR—aligning compensation with strategy
55. HR takes the lead
56. Line managers take the lead
57. Working Together: Team Exercise
58. Questions:
59. Endnotes
60. 2 Contextual Influences on Compensation Practice
61. Learning Objectives
62. Interindustry Wage Differentials
63. Pay Differentials Based on Occupational Characteristics
64. Geographic Pay Differentials
65. Labor Unions
66. Employment Laws Pertinent to Compensation Practice
67. Income Continuity, Safety, and Work Hours
68. Fair Labor Standards Act of 1938
69. Minimum Wage
70. Overtime Provisions
71. Child Labor Provisions
72. Pay Discrimination
73. Equal Pay Act of 1963
74. Civil Rights Act of 1964
75. Bennett Amendment
76. Age Discrimination in Employment Act of 1967 (As Amended in 1978, 1986, and 1990)
77. Civil Rights Act of 1991
78. Accommodating Disabilities and Family Needs
79. Pregnancy Discrimination Act of 1978
80. Americans with Disabilities Act of 1990
81. Family and Medical Leave Act of 1993
82. Prevailing Wage Laws
83. Davis–Bacon Act of 1931
84. Walsh–Healey Public Contracts Act of 1936
85. Preparing for Exams/Quizzes
86. Chapter Summary by Learning Objectives
87. Key Terms
88. Discussion Questions
89. II Bases for Pay
90. 3 Traditional Bases for Pay Seniority and Merit
91. Learning Objectives
92. Seniority and Longevity Pay
93. Historical Overview
94. Who Participates?
95. Effectiveness of Seniority Pay Systems
96. Design of Seniority Pay and Longevity Pay Plans
97. Advantages of Seniority Pay
98. Fitting Seniority Pay with Competitive Strategies
99. Merit Pay
100. Who Participates?
101. Exploring the Elements of Merit Pay
102. Performance Appraisal
103. Types of Performance Appraisal Plans
104. Trait Systems
105. Comparison Systems
106. Behavioral Systems
107. Goal-Oriented Systems
108. Exploring the Performance Appraisal Process
109. Four Activities to Promote Nondiscriminatory Performance Appraisal Practices
110. Sources of Performance Appraisal Information
111. Errors in the Performance Appraisal Process
112. Bias Errors
113. Contrast Errors
114. Errors of Central Tendency
115. Errors of Leniency or Strictness
116. Are Traditional Performance Appraisal Methods Becoming Irrelevant?
117. Strengthening the Pay-for-Performance Link
118. Link Performance Appraisals to Business Goals
119. Analyze Jobs
120. Communicate
121. Establish Effective Appraisals
122. Empower Employees
123. Differentiate Among Performers
124. Possible Limitations of Merit Pay Programs
125. Failure to Differentiate among Performers
126. Poor Performance Measures
127. Supervisors’ Biased Ratings of Employee Job Performance
128. Lack of Open Communication between Management and Employees
129. Undesirable Social Structures
130. Mounting Costs
131. Factors Other than Merit
132. Undesirable Competition
133. Little Motivational Value
134. Preparing for Exams/Quizzes
135. Chapter Summary by Learning Objectives
136. Key Terms
137. Discussion Questions
138. 4 Incentive Pay
139. Learning Objectives
140. Exploring Incentive Pay
141. Contrasting Incentive Pay with Traditional Pay
142. Individual Incentives
143. Defining Individual Incentives
144. Types of Individual Incentive Plans
145. Piecework Plans
146. Management Incentive Plans
147. Behavioral Encouragement Plans
148. Referral Plans
149. Spot Bonuses
150. Signing Bonuses
151. Advantages of Individual Incentive Pay Programs
152. Disadvantages of Individual Incentive Pay Programs
153. Group Incentives
154. Defining Group Incentives
155. Types of Group Incentive Plans
156. Team-Based or Small-Group Incentive Plans
157. Gainsharing Plans
158. The Scanlon Plan
159. The Rucker Plan
160. Advantages of Group Incentives
161. Disadvantages of Group Incentives
162. Company-Wide Incentives
163. Defining Company-wide Incentives
164. Types of Company-wide Incentive Plans
165. Profit Sharing Plans
166. Calculating Profit Sharing Awards
167. Advantages of Profit Sharing Plans
168. Disadvantages of Profit Sharing Plans
169. Employee Stock Option Plans
170. Designing Incentive Pay Programs
171. Group versus Individual Incentives
172. Level of Risk
173. Complementing or Replacing Base Pay
174. Performance Criteria
175. Time Horizon: Short Term versus Long Term
176. Preparing for Exams/Quizzes
177. Chapter Summary by Learning Objectives
178. Key Terms
179. Discussion Questions
180. 5 Person-Focused Pay
181. Learning Objectives
182. Defining Person-Focused Pay: Pay-For-Knowledge, Skill-Based Pay, and Competency-Based Pay
183. Knowledge-Based Pay and Skill-Based Pay
184. Competency-Based Pay and the Competency Model Clearinghouse
185. Foundational Competencies
186. Industry-Related Competencies
187. Occupation-Related Competencies
188. Usage of Person-Focused Pay Programs
189. Reasons to Adopt Person-Focused Pay Programs
190. Technological Innovation
191. Increased Global Competition
192. Varieties of Person-Focused Pay Programs
193. Contrasting Person-Focused Pay with Job-Based Pay
194. Advantages and Disadvantages of Person-Focused Pay Programs
195. Advantages
196. Disadvantages
197. Preparing for Exams/Quizzes
198. Chapter Summary by Learning Objectives
199. Key Terms
200. Discussion Questions
201. Endnotes
202. III Designing Compensation Systems
203. 6 Building Internally Consistent Compensation Systems
204. Learning Objectives
205. Internal Consistency
206. Job Analysis
207. Steps in the Job Analysis Process
208. Determine a Job Analysis Program
209. Select and Train Analysts
210. Direct Job Analyst Orientation
211. Conduct The Study: Data Collection Methods and Sources of Data
212. Summarize the Results: Writing Job Descriptions
213. Legal Considerations for Job Analysis
214. Job Analysis Techniques
215. Occupational Information Network (O*NET)
216. Experience Requirements
217. Occupational Requirements
218. Occupation-Specific Information Requirements
219. Workforce Characteristics
220. Worker Characteristics
221. Worker Requirements
222. Using O*NET
223. Job Evaluation
224. Compensable Factors
225. The Job Evaluation Process
226. Determining Single Versus Multiple Job Evaluation Techniques
227. Choosing The Job Evaluation Committee
228. Training Employees to Conduct Job Evaluations
229. Documenting The Job Evaluation Plan
230. Communicating with Employees
231. Setting up the Appeals Process
232. Job Evaluation Techniques
233. The Point Method
234. Step 1: Select Benchmark Jobs
235. Step 2: Choose Compensable Factors Based on Benchmark Jobs
236. Step 3: Define Factor Degrees
237. Step 4: Determine the Weight of Each Factor
238. Step 5: Determine Point Values for Each Compensable Factor
239. Step 6: Verify Factor Degrees and Point Values
240. Step 7: Evaluate all Jobs
241. Balancing Internal and Market Considerations Using the Point Method
242. Alternative Job-Content Evaluation Approaches
243. Simple Ranking Plans
244. Paired Comparison and Alternation Ranking
245. Classification Plans
246. Alternatives to Job Evaluation
247. Internally Consistent Compensation Systems and Competitive Strategy
248. Preparing for Exams/Quizzes
249. Chapter Summary by Learning Objectives
250. Key Terms
251. Discussion Questions
252. 7 Building Market-Competitive Compensation Systems
253. Learning Objectives
254. Market-Competitive Pay Systems: The Basic Building Blocks
255. Compensation Surveys
256. Preliminary Considerations
257. What Companies Hope to Gain from Compensation Surveys
258. Custom Development Versus use of an Existing Compensation Survey
259. Using Published Compensation Survey Data
260. Survey Focus: Core Compensation or Employee Benefits
261. Sources of Published Compensation Surveys
262. Employment Cost Trends
263. National Compensation Data
264. Wages by Area and Occupation
265. Earnings by Demographics
266. Earnings by Industry
267. County Wages (Quarterly Census of Employment and Wages)
268. Employee Benefits
269. Compensation Surveys: Strategic Considerations
270. Defining the Relevant Labor Market
271. Choosing Benchmark Jobs
272. Compensation Survey Data
273. Using the Appropriate Statistics to Summarize Survey Data
274. Updating the Survey Data
275. Integrating Internal Job Structures with External Market Pay Rates
276. Compensation Policies and Strategic Mandates
277. Pay Level Policies
278. Pay Mix Policies
279. Preparing for Exams/Quizzes
280. Chapter Summary by Learning Objectives
281. Key Terms
282. Discussion Questions
283. 8 Building Pay Structures That Recognize Employee Contributions
284. Learning Objectives
285. Constructing a Pay Structure
286. Step 1: Deciding on the Number of Pay Structures
287. Exempt and Nonexempt Pay Structures
288. Pay Structures Based on Job Family
289. Pay Structures Based on Geography
290. Step 2: Determining a Market Pay Line
291. Step 3: Defining Pay Grades
292. Step 4: Calculating Pay Ranges for Each Pay Grade
293. Pay Compression
294. Green Circle Pay Rates
295. Red Circle Pay Rates
296. Step 5: Evaluating the Results
297. Designing Merit Pay Systems
298. Merit Increase Amounts
299. Timing
300. Recurring versus Nonrecurring Merit Pay Increases
301. Present Level of Base Pay
302. Rewarding Performance: The Merit Pay Grid
303. Employees’ Performance Ratings
304. Employees’ Positions Within the Pay Range
305. Merit Pay Increase Budgets
306. Designing Sales Incentive Compensation Plans
307. Alternative Sales Compensation Plans
308. Salary-Only Plans
309. Salary-Plus-Bonus Plans
310. Salary-Plus-Commission Plans
311. Commission-Plus-Draw Plans
312. Commission-Only Plans
313. Sales Compensation Plans and Competitive Strategy
314. Determining Fixed Pay and the Compensation Mix
315. Influence of the Salesperson on the Buying Decision
316. Competitive Pay Standards Within the Industry
317. Amount of Nonsales Activities Required
318. Designing Person-Focused Programs
319. Establishing Skill Blocks
320. Transition Matters
321. Skills Assessment
322. Aligning Pay with the Knowledge Structure
323. Access to Training
324. Training and Certification
325. In-House or Outsourcing Training
326. Expertise
327. Timeliness
328. Size of the Employee Population to be Trained
329. Sensitivity or proprietary nature of the subject matter
330. Certification and recertification
331. Pay Structure Variations
332. Broadbanding
333. The Broadbanding Concept and its Advantages
334. Limitations of Broadbanding
335. Two-Tier Pay Structures
336. The Two-Tier Pay System Concept and its Advantages
337. Limitations of Two-Tier Pay Structures
338. Preparing for Exams/Quizzes
339. Chapter Summary By Learning Objectives
340. Key Terms
341. Discussion Questions
342. IV Employee Benefits
343. 9 Discretionary Benefits
344. Learning Objectives
345. Origins of Discretionary Benefits
346. Categories of Discretionary Benefits
347. Protection Programs
348. Disability Insurance
349. Life Insurance
350. Retirement Programs
351. Paid Time Off
352. Services
353. Employee Assistance Programs
354. Family Assistance Programs
355. Educational Benefits
356. Transportation Services
357. Outplacement Assistance
358. Wellness Programs
359. Financial Education
360. Student Loan Repayment Assistance
361. Pet Insurance
362. Legislation Pertinent to Discretionary Benefits
363. Internal Revenue Code
364. Employee Retirement Income Security Act of 1974 (ERISA)
365. Pension Protection Act of 2006
366. Defined Benefit Plans
367. Defined Contribution Plans
368. Designing and Planning the Benefits Program
369. Determining Who Receives Coverage
370. Financing
371. Employee Choice
372. Cost Containment
373. Communication
374. The Benefits and Costs of Discretionary Benefits
375. Preparing for Exams/Quizzes
376. Chapter Summary by Learning Objectives
377. Key Terms
378. Discussion Questions
379. 10 Legally Required Benefits
380. Learning Objectives
381. Origins of Legally Required Benefits
382. Categories of Legally Required Benefits
383. Social Security Programs
384. Unemployment Insurance
385. Old age, Survivor, and Disability Insurance
386. Old age Benefits
387. Survivor Benefits
388. Disability Benefits
389. Medicare
390. Medicare Part a Coverage
391. Medicare Part B Coverage
392. Medigap Insurance
393. Medicare Part C Coverage—Medicare Advantage
394. Medicare Prescription Drug Benefits
395. Financing Oasdi and Medicare Programs
396. Oasdi Programs
397. Medicare Programs
398. Workers’ Compensation
399. Workers’ Compensation Objectives and Obligations to the Public
400. How Workers’ Compensation Compares to Social Security Benefits
401. Recent Trends in Workers’ Compensation
402. Financing Workers’ Compensation Programs
403. Family and Medical Leave
404. State and Local Paid Leave Laws
405. Health Insurance
406. Health Insurance Program Design Alternatives
407. Fee-For-Service Plans
408. Managed-care Approach
409. Health Maintenance Organizations
410. Preferred Provider Organizations
411. Exclusive Provider Organizations
412. Point-of-Service Plans
413. Features of Health Care Plans
414. Deductible
415. Coinsurance
416. Out-of-Pocket Maximum
417. Preexisting Condition Clauses
418. Lifetime and Yearly Limits
419. Specialized Insurance Benefits
420. Prescription Drug Plans
421. Mental Health and Substance Abuse
422. Consumer-Driven Health Care
423. Additional Health Care Legislation
424. Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA)
425. Health Insurance Portability and Accountability Act of 1996 (HIPAA)
426. The Benefits and Costs of Legally Required Benefits
427. Preparing for Exams/Quizzes
428. Chapter Summary by Learning Objectives
429. Key Terms

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