Exam 11: Pay for Performance and Employee Benefits

The firm for which Rob works offers employees counseling services,a credit union,and a physical fitness facility,which are all considered personal service benefits.

A(n)________ plan is an incentive plan that engages many or all employees in a common effort to achieve a company's productivity objectives with any resulting cost-savings shared among employees and the company.

Athena,a sales representative,was terminated from her position at Ross Manufacturing.On Athena's last day of work,she was given a check for $5,000.What did Athena most likely receive from Ross Manufacturing?

Which of the following terms refers to any salary increase the firm awards to an individual employee based on his or her individual performance?

What is the primary disadvantage of using the straight salary approach to pay salespeople?

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

Ryobi is a large,international power tool manufacturer that develops affordable,high-quality products such as drills,circular saws,and routers for both homeowners and craftspeople.As the company continues to grow,its top executives want to ensure that employees are appropriately paid for their performance and that financial incentives are both fair and effective.Currently,the firm provides merit raises based on performance appraisals;however,executives are considering changing the current incentive plan. Which of the following,if true,undermines the argument that Ryobi should discontinue all merit raises?

Which gainsharing plan involves employees working on a guaranteed piecework basis?

A 401(k)plan is best described as a ________.

Which of the following benefits is required by federal or state law?

Every month,Angela,a manager at a manufacturing facility,meets briefly with each of her subordinates and shows them a graph of their productivity on the assembly line.Which term best describes Angela's activity?

Why do some companies use employee leasing firms?

Which of the following is NOT a true statement about the Family and Medical Leave Act?

What type of profit-sharing plan involves the firm simply distributing a percentage of profits as profit shares to employees at regular intervals?

In a brief essay,describe the three classifications that apply to basic pension plans.

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

Which of the following is the primary benefit of employee stock ownership plans?

Which of the following is the most commonly used tool for motivating employees?

An executive who receives a ________ stock receives units instead of shares of company stock.The units will be equated to cash in the future if appreciation occurs.

Health insurance,life insurance,pensions,and child care assistance are best categorized as ________.