Question: (9) Concerning compensation (a) Total compensation includes monetary and nonmonetary rewards. (b) Market-based pay systems can be internally unfair and be as successful as systems

(9) Concerning compensation (a) Total
(9) Concerning compensation (a) Total compensation includes monetary and nonmonetary rewards. (b) Market-based pay systems can be internally unfair and be as successful as systems that rely on internal fairness if they rely on market surveys. (c) Firms can motivate and retain employees with high satisfaction and low pay. (d) Virtually all firms provide employees with basic information about the design of the pay system and details about the employee's pay grade. (e) All of the above (1) A&b (10) Regarding merit pay (a) A large portion of total earnings vary with respect to performance, which can result in higher or lower pay than during the prior year. (b) Deming was a long-time advocate of merit pay because it is targeted at teamwork (c) A work unit's costs and productivity are measured and improvement over the prior period is shared between the firm and employees. (d) Rewards are linked to performance using a merit matrix, which uses performance ratings. A typical matrix is designed so that poor performers get zero, average may get one to four percent, and top performers may get 10 percent. (11) Under conventional medical plans: (a) Employees choose from a restrictive list of primary care physicians who serve as gatekeepers of the employees health care. (b) Employers contract directly or indirectly through an insurance company with health care providers to deliver discounted services to program participants (c) There is a primary care physician who serves as a gatekeeper, but employees can go out of the plan's network and the extra cost is covered through copays (d) The plan offers a broad range of health care services from which employers can select coverage. Employees choose any provider they want. An insurance company administers the plan. (e) All of the above (0) A&b

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