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SPHR > Total Rewards > Flashcards

Total Rewards Flashcards

1
Q

What is a stakeholder?

A

Any party that has an interest (“stake”) in the company

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2
Q

Define “mode.”

A

In a set of observations, the quantity most present.

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3
Q

Define “median.”

A

A measure found by arranging the values in order and then selecting the one in the middle. Therefore, half the numbers are less than the median and half are higher.

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4
Q

Define “mean.”

A

The result of dividing the sum of two or more quantities by the number of quantities.

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5
Q

Define “offshoring.”

A

The process of moving some, or all, of a company’s tasks overseas to reduce costs. Seen often with call centers and manufacturing.

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6
Q

What is the cost-per-hire metric?

A

A metric used to determine the amount of funds spent on each new hire. Typically determined as the amount spent (internal and external recruitment) divided by the number of hires for that period.

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7
Q

What is the name of the practice of using power or influence to provide benefits or favoritism to family and/or friends?

A

Nepotism

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8
Q

Which agency enforces both the Fair Labor Standards Act and the Employee Polygraph Protection Act?

A

The Wage and Hour Division of the Department of Labor

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9
Q

What act, regarding medical leave, has a distance component in its requirements?

A

FMLA, the Family Medical Leave Act. In order to be required to comply a company must have at least 50 employees within a 75-mile radius.

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10
Q

When considering adverse impact, one metric that is often examined is the selection rate for one group against the rate for the highest selected group to make sure that it is at least 80%. What metric is this?

A

Four-Fifths Rule

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11
Q

What is the term for an employee who is working in a new country for an extended period on behalf of the company?

A

Expatriate

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12
Q

Can a manager choose to skip over some of the steps in a formal steps grievance plan?

A

No, not unless the plan has specific examples of acts that may lead to immediate, listed consequences, such as theft leading to immediate dismissal. Otherwise, the manager must follow each step of the grievance plan in order.

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13
Q

What does DEI mean in the workplace?

A

DEI stands for Diversity, Equity, and Inclusion. This is an initiative, policy, or practice that a workplace may adopt in order to make employees from all backgrounds feel welcome.

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14
Q

When does the OSHA 300 Log need to be posted, and where?

A

It needs to be posted from February 1st to April 30th of the following year in an accessible place with other worker notices.

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15
Q

Define “qualitative.”

A

A qualitative analysis looks into the quality, or standard, of the material being studied.

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16
Q

Define “quantitative.”

A

A quantitative analysis looks at the amount, or quantity, of an item (or set of items).

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17
Q

Under ERISA, the annual report form must be filed with the IRS and be made available for participants in the employee benefit plan to inspect. Name this form.

A

Form 5500

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18
Q

What is the term that involves ordering jobs from highest to lowest based on some definition of value or contribution to the organization?

A

Job ranking, which is a form of job evaluation.

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19
Q

Only one group of nonexempt employees are allowed to receive “compensatory time off.” Name this group and give one example of a profession/occupation covered by this law.

A

Public sector employees: police, fire fighters, emergency workers, etc.

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20
Q

Name the 3 events that will end COBRA coverage.

A
  1. The qualifying time period has elapsed.
  2. The former employee becomes eligible for insurance coverage under another plan.
  3. The employee fails to pay the costs of coverage.
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21
Q

The Social Security Act provides 4 types of benefits to workers. Name these 4 types.

A
  1. Retirement income
  2. Disability
  3. Survivor’s benefits
  4. Hospital/Medical Insurance (Medicare)
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22
Q

Rewards that derive from sources external to the job itself are called?

A

Extrinsic rewards

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23
Q

What are raises that are given to match the inflation rate to maintain a level of purchasing power?

A

Cost-of-living-adjustment (COLA)

24
Q

Which act discusses payment for time preparing to work, but not yet actually working?

A

Portal-to-Portal Act

25
Q

Define “total compensation system.”

A

It refers to all forms of financial rewards, both direct and indirect, that employees receive from their employers.

26
Q

What is it called when an apparently neutral compensation practice results in unintentional wage discrimination for a protected group?

A

Disparate impact

27
Q

Under COBRA, former employees can continue their insurance coverage should they terminate their employment. There is one exception that allows employers to terminate coverage. Name this exception.

A

Gross misconduct

28
Q

If an employee is off on a paid holiday, such as Memorial Day, must the holiday hours be counted in calculating hours for overtime pay?

A

No. Only hours actually worked must be counted.

29
Q

Psychological and intellectual rewards inherent in the job itself, such as the opportunity to perform meaningful work or gain a sense of accomplishment are called what kinds of rewards?

A

Intrinsic rewards

30
Q

This entity administers ERISA’s termination insurance provisions and protects against a loss of retirement benefits when a defined benefit pension plan terminates with inadequate or not funding.

A

Pension Benefit Guaranty Corporation (PBGC)

31
Q

Define “predictive validity” for the performance appraisal process.

A

A performance appraisal process has predictive validity if a positive statistical correlation exists between an employee’s performance appraisal and the employee’s performance in later jobs.

32
Q

What approach is one in which employees in the skilled trades, as well as research and development, progress through the salary ranges by acquiring new skills and knowledge, usually on the job?

A

Technical skills ladder (similar to a career ladder)

33
Q

Explain the “prudent person rule” as it applies to ERISA and the incumbent fiduciary responsibilities.

A

The employer has a legal and financial responsibility to not misuse retirement funds, as they must be protected for the exclusive benefit of the participants.

34
Q

Define “differential pay.”

A

Adjustments to base pay made to address factors that create pay inequalities (i.e. less desirable shifts, performing unpleasant or arduous work).

35
Q

An employee works for my organization who moonlights in a landscaping business that he owns. We have retained him and his business on weekends to cut and maintain our yard. We have issued him a 1099 in the past for this work as we consider him an independent contractor. Is this permissible?

A

No. Wage and Hour will not accept him as an independent contractor. He must be paid for his hours worked and overtime must be calculated if he exceeds 40 hours in total between the two positions.

36
Q

What term describes compensation for the sale of products or services, usually calculated as a percentage of the sale?

A

Commission

37
Q

FLSA is the broadest piece of labor legislation. Name the 5 major areas it covers.

A
  1. Exempt status
  2. Child labor
  3. Minimum wage
  4. Overtime pay
  5. Record keeping
38
Q

What term is used to describe when employees are compensated similarly to perform different jobs that require similar skills, effort, and responsibility under similar working conditions?

A

Comparable worth

39
Q

Group incentive plans encompass what 4 areas?

A
  1. Gainsharing
  2. Team incentives
  3. Cash profit sharing plans
  4. Combination plans
40
Q

Which job evaluation system measures a job’s worth based on how the job is valued by the broader marketplace of employers as reflected by the prevailing compensation rates for the particular job?

A

Market-based

41
Q

What is the term for benefit plans that allow employees to choose their own mix of benefits or levels of coverage?

A

Flexible benefit plans/cafeteria plans

42
Q

Employees required to remain on or so close to the employer’s premises that they cannot use this time effectively for their own purposes are not considered to be working while on call. True or false?

A

False, this is called “engaged to wait.”

43
Q

A permanent increase in base salary paid for an individual’s outstanding performance is called __________.

A

Merit pay

44
Q

Which job evaluation system appraises the whole job by comparing all job titles to one another?

A

Ranking

45
Q

Early withdrawal from an IRA is subject to what percentage of tax?

A

10%

46
Q

Define “content validity.”

A

The factors used in a performance appraisal process are content valid if they are both representative of the job and relevant to the job. Example: a typing test for a typist position.

47
Q

Which act requires employers with at least 50 employees to provide up to 12 work weeks of unpaid leave for certain events in a 12-month period?

A

Family Medical Leave Act (FMLA)

48
Q

What term describes when a company projects where the market rates will be at the middle of the plan year and matches those rates at the start of the plan year?

A

Lead/lag policy

49
Q

In what pay structure does each job have a single rate of pay?

A

Fixed rate

50
Q

Which act requires the payment of minimum prevailing wages for the locale in which workers are employed in a federally sponsored public works?

A

Davis-Bacon Act

51
Q

What term describes when a company establishes a structure that matches the market rates at the beginning of the plan year?

A

Lag policy

52
Q

What 2 acts are designed to protect the employee from unlawful or unauthorized deductions?

A

Copeland Act and Anti-Kickback Law

53
Q

What provides employees with financial protection in the event of a disabling workplace injury or illness and protects employers from potentially costly damage suits?

A

Workers’ compensation

54
Q

The portion of earnings left after deductions required by law are called ____________.

A

Disposable earnings.

55
Q

What is the term that refers to pay rates that are above the maximum of the pay range?

A

Red circle rates

56
Q

Which act requires that employers provide employees with specific information concerning benefit plans?

A

Employee Retirement Income Security Act (ERISA)

SPHR (4 decks)

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