WorldatWork GR1 - Total Rewards Management Exam

It isn't. The performance review should not be related to pay decisions.

It is related to the extent that it affects variable pay awards. Base pay is based solely on tenure, prior experience and job skills.

It helps managers meet salary budgets by allowing them to adjust review results to align with available salary increase funds.

It provides managers a measure that can be used along with salary planning guidelines to determine appropriate rewards or consequences.

 

 

 

Conduct performance discussion

Define goals, standards and measures

Conduct career opportunities discussion

Determine rewards

 

 

 

Salary

Piece rate

Hourly rate

Commissions

 

 

 

The diversity of jobs

The demographics of the workforce

The organization's financial condition

The organizations policies regarding centralized pay administration

 

 

 

They require complex actuarial calculations and assumptions.

The benefit is based on a formula that considers pay and service.

They generally provide better benefits to employees with longer service.

The employee assumes the risk for the investments.

 

 

 

Defined benefit plan

Death benefits

Defined contribution plan

Vision plan

 

 

 

Attendance at technology training

Association membership

Career ladder and pathway

Compliance training

 

 

 

To achieve organizational cost savings through base pay reductions

To increase employee identification with the organization's success

To defer compensation expenses to future reporting periods

To reward individual employees for some significant contribution

 

 

 

The corporate mission

The business strategy

The compensation strategy

The corporate vision

 

 

 

Pay for time not worked

Hourly pay

Bonuses

Piece rate