Liberty University BUSI 342 Exam 3 Quiz 3 Test Complete Solution Correct Answer Key

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Liberty University BUSI 342Exam 3Quiz 3TestCompleteSolutionCorrectAnswerKeyCareers are not predictably linear but cyclicalAscompanies become larger, the benefits of informal succession planning become greaterAnne’s supervisor is enthusiastic about introducing outdoortraining into their organization. Anneis concerned that it may not be appropriate because of the physical nature of the training and thehazardsinvolved.AnumberofAnne’ssubordinatesareover50andsomearephysicallychallenged. Anne’s concerns are realisticTalent management is growing in importance because it is concerned with the attraction.When an HR manager does career planning for a high-potential employee who has aspousewithaprofessionaloccupation, it would be a good idea to consult with both the employee and thespouseThe career stage that hinders the job progression of many women with familyresponsibilitiesandblocks them from advancing to executive ranks is the late career stage.Succession planning focuses both on emergency replacements for critical positions and makingsure that other successors will be ready with some additional development.Joblossasacareertransitionhasbeenmostassociatedwithdownsizing,mergers,andacquisitions.Phased-in retirement is generally used as a means of allowing older employees to gradually leavean organization.Succession planning should bedone for all key jobs in the organization, even if they are low inthe hierarchyThe major purpose of 360-degree feedback is to increase uniformity by soliciting like-mindedviews.The contrast error occurs when a rater scores an employee high on all job criteria because ofperformance in one area.The developmental function of performance appraisals can identify areas in which the employeemight wish to growAn informal appraisal is used when a system is in place to report managerial impressions andobservations on employee performance and feature a regular time intervalCompanies must only use multisource feedback primarily as an administrative toolPeerandteamratingsareespeciallyusefulonlywhensupervisorshavetheopportunitytoobserve each employee’s performanceThe performance management process starts by identifying the strategic goals an organizationneeds to accomplish to remain competitive and profitable.With the ranking method, the ratings of employees’performance aredistributedalong a bell-shaped curve.A major concern for managers in performance management is how to emphasize the positive

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aspects of the employee’s performance while still discussing ways to make neededimprovements.In the performance-driven organizational culture, employee rewards vary little from person toperson and are not much based on individual performance differencesThe compa-ratio is calculated by dividing the individual’s pay rate by the lowest point in the payrangeNot having to pay social security, unemployment, or workers’compensation costs to independentcontractors offers major advantages to the employerThe most common indirect compensation is employee benefits.Compliance with FLSA provisions on employee compensation is enforced by the National LaborRelations Board.Match-the-market strategy is also called third-quartile strategy.Thepracticeofusingfewerpaygradeswithmuchbroaderrangesthanintraditionalcompensation systems is called broadbandingMarket banding groups jobs into paygrades based on similar market survey amountsThe home-country-based approach compensates the expatriate at the same level as workers fromthe country where the expatriate has been sent from the headquarterIntangible rewards can be measured and it is possible to calculate the value of each rewardA pay survey is a report based on research of compensation rates for workers performing similarjobs in other organizations.The straightcommissionsystem combines the stability of a salary with the performance aspect ofa commissionThemostprevalentformsoforganization-wideincentivesarepiece-ratesystems,salescommissions, and individual bonusesPerquisites (Perks) are special benefits, usually noncash items, for executivesA straight salary has no additional commission incentive, while a straight commission has allcompensation tied to the incentiveThe salary-only approach is useful only when anorganizationemphasizes generating new salesand accounts.Employee stock ownership plan designed to give employees significant stock ownership by theiremployersThereason for giving compensation in the form of incentives is that it is thought to be effectivein motivating employees and increasing corporate performance and stock valuesThe advantage of a salary-plus-commission system is that it requires the sales representative tosell to receive any form of paymentA draw is a system in which salesrepresentativecan draw advance payments against futurecommissions.The“clawbacks”provision in Civil Rights Act of 1964 allows a company to recover any incentive-based pay that was paid out during the prior three years if it would nothavebeen paid underrestated financial statements.

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