1. � This is a way in which companies often trim their payroll responsibilities by encouraging higher paid workers with more seniority to voluntarily leave the company earlier than previously planned. 2. � Which of these actions would HR seek to encourage in attempting to create a lowest-cost competitive strategy? 3. � What do compensation managers use to recognize differences in the relative net worth of jobs and to establish pay differentials based upon management priorities? 4. � What strategy describes the use of benefit and compensation packages in order to support both HR and competitive strategies? 5. � This group is directly involved in producing goods and delivering services for a company. 6. � What is the primary factor that will prevent companies from growing in the next decade? 7. � What U.S. federal law established a national minimum wage for employees involved in commerce (rather than just those employed by companies working for the U.S. government), as well as prohibit most employment of minors in oppressive child labor? 8. � Which of these is a company sponsored program that provides income to workers throughout their retirement? 9. � A company’s ability to sustain market share and profitability for several years running is referred to by what term? 10. These compensation systems go a long way in attracting and retaining the most qualified employees, and are based upon market surveys and compensation surveys. 11. Which of the following is NOT one of the three broad categories that discretionary benefits fall into? 12. What is a systematic process for gathering, documenting, and analyzing information in order to describe jobs? 13. This term suggests that a loss is likely for the firm, and that the individual will be left with little control. 14. These describe the terms of employment that are set between management and union bargaining representatives. 15. These build upon pay grades, and include maximum, minimum, and mid-point pay rates for jobs in particular pay grades.
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