GR1 Sample Questions Answers

Deductible

Coinsurance

Coordination of benefits

Out-of-pocket expenses

Intrinsic

Extrinsic

External consultants

Compensation committee

Board of directors

Senior management

Performance standards

Human resources strategy

Performance measures

Business strategy

Cash provided by an employer to an employee for his or her efforts and results toward completion of goals

Organizational practices, policies and programs to help employees achieve success within and outside of the workplace

Alignment of organizational, team and individual efforts toward success

Learning experiences designed to enhance employees' skills and competencies

Job component

Ranking

Benchmark

Point factor

Because programs can be added and/or withdrawn with little employee resistance

Because incentive plans can be designed by work group or unit as well as separately for each employee

Because the mix of rewards offered can be tailored according to the organization's specific challenges

Mental health coverage and health care coverage

Pay for time not worked and income protection programs

Unemployment and disability

Defined contribution and defined benefits plans

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.

The mission statement

The business strategy

The total rewards strategy

The organizational vision