Choose the right answer from the options mentioned ( 251) 1) The reward system that adds the most value to the organization after, considering all its costs a) Equitable Reward system b) Equitable Reward system c) Reward strategy d) Reward system 2) Which one among the following does not constitute a goal of an effective reward and compensation system? b) Attract and retain qualified candidates c) Comply with the law d) Promote desired employee behaviour 3) Compensation strategy confirms to: a) The plan for the mix of rewards to be provided to the members along with the means through which they will be provided. b) The plan for the mix and total amount of base pay, performance pay and indirect pay to be paid to various categories of employees. c) The economic or monetary part of the reward system. d) A compensation philosophy that considers the entire spectrum of the rewards that an organization may offer to its employees. Factors that satisfy higher order human needs for self-achievement, growth and development. a) Intrinsic rewards b) Intrinsic factors c) Extrinsic rewards d) Extrinsic Incentives The mix of extrinsic and intrinsic rewards that an organization provides to its members. a) Reward strategy b) Reward plan c) Optimal Reward system d) Reward System Vertical Fit refers to: a) Alignment of strategies at different levels b) Alignment of strategies at same level -) Optimal alignment of strategies d) Alignment of Compensation strategies Which among the following statements relate to Classical Managerial Strategy: People can be motivated by appealing to their social needs Work can be intrinsically motivating if designed in a structured fashion. Create circumstances where economic needs are threatened Peer groups influence workers