Benefits and Perquisites

Question 1

Tangible payments or services provided to broad groups of employees to cover issues such as retirement, private health coverage, sick pay/disability schemes, life insurance, and paid time off.

Answer 1

Benefits

Question 2

These benefits are administered and provided directly by the government, usually paid for through taxes.

Answer 2

Government-Provided

Question 3

These benefits are provided by employers because the law requires them to do so.

Answer 3

Government-Mandated

Question 4

Benefits provided voluntarily by the employer may not be totally discretionary; competitive practice or employee relations may put pressure on the employer.

Answer 4

Voluntary or discretionary

Question 5

These benefits are offered and adjusted compared to the external market.

Answer 5

Market Practice

Question 6

Benefits are taxed differently in different countries.

Answer 6

Tax treatment of benefits

Question 7

Provides needed relief from the physical and mental demands of work.

Answer 7

Paid time off (PTO)

Question 8

Unmarried couples, of the same or opposite sex, who live together and seek economic and noneconomic benefits comparable to those granted to their married counterparts.

Answer 8

Domestic partners

Question 9

Reflects the total costs of benefits divided by the total payroll costs for the organization.

Answer 9

Benefits Costs as a Percentage of Total Payroll Costs

Question 10

Percentage that measures the health-care expense per employee for a given fiscal year. Total health-care expenses include employee- and company-paid premiums, stop-loss insurance, and administrative fees.

Answer 10

Health-Care Expense per Employee

Question 11

Represents the expected increase/decrease in the organization’s health-care expense for a given fiscal year; a comparison of the current health-care expense per employee metric to previous years and projected.

Answer 11

Annual Increase/Decrease in Health-Care Benefit Costs

Question 12

Employees discuss why they like (or do not like) their current job.

Answer 12

Stay Interviews

Question 13

Describes all the activities associated with an employee’s tenure in an organization.

Answer 13

Employee Life Cycle (ELC)

Question 14

Employee Life-Cycle Phases

Answer 14

Recruitment > Integration > Development > Transition

Question 15

Any part of the selection process that provides an applicant with honest and complete information about a job and the work environment.

Answer 15

Realistic Job Preview (RJP)

Question 16

Ability to keep talented employees in the organization.

Answer 16

Retention

Question 17

Ratio of lost days to number of employees

Answer 17

Absence rate

Question 18

Comparison of budget to actual assignee costs

Answer 18

Accruals

Question 19

Percentage of applicants who proceed to the next step of the selection process

Answer 19

Applicant yield ratio

Question 20

Total costs of hiring divided by number hired

Answer 20

Cost per hire

Question 21

Ratio of employment-related expenses to revenue minus nonemployment expenses

Answer 21

Human capital return on investment

Question 22

Revenue minus nonemployment expenses divided by number of full-time employees

Answer 22

Human capital value added

Question 23

Percentage of key talent retained

Answer 23

Key talent retention

Question 24

Percentage of internal promotions

Answer 24

Promotion pattern

Question 25

Proportion of selected applicants who are later judged to be successful on the job

Answer 25

Success ratio

Question 26

Economic benefit of enhanced performance minus costs of developing, producing, and delivering training

Answer 26

Training return on investment

Question 27

Number of percentage of employees moving across divisions to new jobs

Answer 27

Transfer

Question 28

Costs associated with separation, vacancy, replacement, and training

Answer 28

Turnover costs

Question 29

Proportion of exiting employees to all employees

Answer 29

Turnover rates

Question 30

Costs of substitute labor (temp workers, contractors, outsourcing partners) minus wages and benefits not paid because vacant

Answer 30

Vacancy costs

Question 31

A health-care offering that has spread around the world. Intended to help identify and resolve employee concerns related to personal matters or work-related issues that, in some instances, can affect health or performance in the workplace.

Answer 31

Employee assistance programs (EAP)

Question 32

Intended to promote and support the health, safety and well-being of employees.

Answer 32

Wellness programs

Question 33

A benefit that refers to payments made to employees who are physically unable to perform their jobs because of illness or injury.

Answer 33

Disability insurance

Question 34

These occur when an employee resign or retires.

Answer 34

Voluntary Termination

Question 35

These occur typically when employers discharge particular employees for cause.

Answer 35

Involuntary Termatination

Question 36

Special incidental payments, benefits, or privileges given to individual employees, over and above their regular rewards.

Answer 36

Perquisites