Exam 3 Study Guide

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MGMT 4020 Exam 3 Study Guide – Fall 2012

As I discussed in class, exam 3 will cover chapters 11-14. The exam will consist of 40 multiple choice questions worth 5 points each, and a one-page essay.

You choose one of the essay questions to answer. Please bring your essay with you to the exam.

I am expecting well-written five-paragraph essays with the first and last paragraphs being your introduction and conclusion, respectively. Keep in mind I want a one-page essay. Keep it concise and focused.

The questions are:

1. How does EEO law affect the practice of human resource management in three functional areas (examples: recruitment, training, variable pay, etc.)? Please be specific, especially with regard to the laws themselves.

2. How is diversity changing the practice of human resource management across multiple functional areas (examples: recruitment, training, variable pay, etc.)? Again, be specific.

3. How will a continued economic slowdown and increased unemployment affect the practice of human resource management across multiple functional areas? Again, be specific.

Beyond the learning objectives at the beginning of the chapters and the definitions, study these questions:

Chapter 11 – Pay Structure

1.Identify the kinds of decisions involved in establishing a pay structure.

2.Summarize legal requirements for pay policies.

3.Discuss how economic forces influence decisions about pay.

4.Describe how employees evaluate the fairness of a pay structure.

5.Explain how organizations design pay structures related to jobs.

6.Describe alternatives to job-based pay.

7.Summarize how to ensure that pay is actually in line with the pay structure.

8.Discuss issues related to paying employees serving in the military and paying executives.

• Does the FLSA provide protection against wage discrimination? What does it provide for? • Which two laws require employers to pay a “prevailing wage”? • How do labor markets determine the level of compensation an organization must offer to prospective applicants? • Which mathematical relationship does a pay policy line show? • What are the requirements of the USERRA?

Chapter 12 – Variable Pay

1.Discuss the connection between incentive pay and employee performance.

2.Describe how organizations recognize individual performance.

3.Identify ways to recognize group performance.

4.Explain how organizations link pay to their overall performance.

5.Describe how organizations combine incentive plans in a “balanced scorecard.”

6.Summarize processes that can contribute to the success of incentive programs.

7.Discuss issues related to performance-based pay for executives.

• Which incentive pay system involves a higher piece rate when a greater amount is produced?

• Who gets receives a greater increase in pay? A person performing well but has a compa-ratio below 1 or a person performing well that has a compa-ratio above 1?

• What is the Scanlon plan?

• Do ESOPs involve a trust?

• What are some long-term incentives for executives?

Chapter 13 – Benefits

1.Discuss the importance of benefits as a part of employee compensation.

2.Summarize the types of employee benefits required by law.

3.Describe the most common forms of paid leave.

4.Identify the kinds of insurance benefits offered by employers.

5.Define the types of retirement plans offered by employers.

6.Describe how organizations use other benefits to match employees’ wants and needs.

7.Explain how to choose the contents of an employee benefits package.

8.Summarize the regulations affecting how employers design and administer benefits programs.

9.Discuss the importance of affectively communicating the nature and value of benefits to employees.

• Out of every dollar spent on compensation, how much goes towards...
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