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Hrm 531 Week 2 Knowledge Check

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HRM 531 Week 2 Quiz
Correct answer in capital letter

1. At a comprehensive point of view, a(n) _____ includes anything an employee values and desires that an employer is able and willing to offer in exchange for employee contributions.

a. competency-based pay system
b. employee stock ownership plan
C. organizational reward system
d. merit-pay method

Organizational reward systems include both financial and nonfinancial rewards for employee contributions.

2. ___________ bridge the gap between organizational objectives and individual expectations and aspirations.

a. Financial systems
b. Corporate compensation systems
c. Employment practices
D. Rewards

Organizational reward systems and compensation systems design involves working out tradeoffs among somewhat seriously-conflicting objectives.

3. Reviews of both laboratory and field tests of _____________ are quite consistent. Individuals tend to follow the equity norm and to use it as a basis for distributing rewards.

A. equity theory
b. the external labor market
c. organizational needs
d. the internal labor market

Pay systems must be seen as adequate and equitable if they are to accomplish the objectives that management sets for them.

4. In labor economics, __________________ theory holds that unless an employee can produce a value equal to the value received in wages, it will not be worthwhile to hire that worker.

A. the marginal productivity
b. the percent of company offerings
c. the willingness to reduce the size of the workforce
d. the concern with pay for position

The marginal productivity theory states that unless an employee generates at least as much income as his or her wages, that person is not worth employing. In practice, a number of factors interact to determine wage levels.

5. Which of the following laws...

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