Assignment: Compensation Management

Complete the following exam by answering the questions and compiling your answers into a word-processing document. When you're ready to submit your answers, refer to the instructions at the end of your exam booklet.

Part A: Answer each of the following questions in one or two paragraphs.

1. Compare and contrast the pay and employment practices common in Japan with the pay and employment practices common in Germany.

2. What are the factors that affect external competitiveness in pay levels? How does each factor contribute to the overall pay level and mix decisions?

3. What are some of the ways used to judge a job analysis to ensure it's an effective organizational tool?

Part B: Answer each of the following questions in one to four sentences. Each answer is worth 5 points.

1. How can describing a present value of a stream of earnings be used to help a possible new hire overcome objections to  a small starting salary?

2. Define differentials and discuss some of the major factors that go into determining them.

3. List and describe the four major cost-containment strategies for benefits.

4. List and describe the four policy decisions that make up the left side of the pay model.

5. Which type of performance appraisal is considered the most effective for employee development? Why is this one considered more effective than the others?

6. Describe what should happen with a performance-based pay system if you're using reinforcement theory as a basis for your actions.

7. What are some of the characteristics of an executive, according to the Fair Labor Standards Act exemptions?

8. What are the three objectives to using the balance sheet approach when determining the wage level for expatriates?

9. List the main differences between a health maintenance organization (HMO) and a preferred provider organization (PPO).

10. Explain how an Improshare is developed and executed.

11. Define ranking and discuss the pros and cons of using this as a job evaluation method.

Study Guide: Compensation Management By Adam Gifford.