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Compensation Management: Theories & Challenges

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What is the term given to anything of value that is given to an employee in exchange for work provided?

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1. What is the goal of an effective compensation management program?

2. Which of the following is NOT one of the three main compensation management theories?

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About This Quiz & Worksheet

This worksheet and quiz will assess you on compensation management theories and issues facing compensation managers today. With the quiz, you will cover what these theories entail and how they affect businesses and employees.

Quiz & Worksheet Goals

The worksheet and quiz will help you to:

  • Name the term for something of value provided to an employee for their work
  • Identify the goal of an effective compensation management program
  • Recognize compensation management theories
  • Understand why finding and keeping employees might be challenging for a compensation management system
  • Define limited talent pool

Skills Practiced

The worksheet and quiz will allow you to practice the following study skills:

  • Reading comprehension - ensure that you draw the most important information from the related lesson on compensation management theories and issues
  • Critical thinking - apply relevant concepts about compensation management systems to examine information about retention and recruitment in a different light
  • Defining key concepts - ensure that you can accurately define main phrases, such as limited talent pool and compensation management theory

Additional Learning

Use the lesson entitled Compensation Management: Theories & Challenges for more information on this subject. The lesson will cover the following:

  • Define behavior reinforcement
  • Explain agency theory
  • Analyze the challenges in compensation management
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