HR Compensation & Benefits: Definition & Policies

Instructions:

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question 1 of 3

An example of an indirect financial strategy is _____.

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1. You are the compensation and benefits manager and are explaining to the company chief executive officer why you should write policies for the employee handbook. Such an inclusion in the handbook will help employees _____.

2. The Affordable Care Act and the Employment Retirement Income Security Act of 1974 (ERISA) should be addressed in your compensation and benefit policies pertaining to this strategy:

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About This Quiz & Worksheet

There are various forms of employee benefits and compensation that can be addressed by an HR department. This quiz/worksheet combo deals with topics such as indirect financial strategy and the Fair Labor Standards Act.

Quiz & Worksheet Goals

In these assessments, you'll be tested on your knowledge of the following:

  • FLSA compliance
  • Indirect financial compensation strategy
  • Nature of flexible scheduling
  • Affordable Care Act and ERISA
  • Employee handbook policies

Skills Practiced

The quiz and worksheet provide you the opportunity to practice the following skills:

  • Reading comprehension - make sure that you understand the most significant points from the related lesson on HR compensation and benefits
  • Defining key concepts - ensure that you can accurately define main phrases, such as indirect financial compensation, ERISA and FLSA
  • Information recall - access the knowledge you've gained regarding the various ways in which HR can offer and explain compensation and benefits to employees

Additional Learning

In order to gain more insight into the workings of HR in the area of employee benefits and compensation, read through the accompanying lesson entitled HR Compensation & Benefits: Definition & Policies. Among the objectives dealt with in the lesson are the following:

  • Explain the importance and purpose of an employee handbook
  • Differentiate between indirect financial compensation and direct financial compensation
  • Provide examples of employee benefits, separate from monetary compensation
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