What is Compensation Management? - Definition & Components

Instructions:

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

question 1 of 3

Which one is not a form of compensation?

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1. The act of compensating an employee for their work in accordance to the policies and processes of the company, is what?

2. Which is not a consideration of compensation management?

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About This Quiz & Worksheet

Money is the defining characteristic of compensation doled out to an employee. This quiz/worksheet combo delves into the various forms that compensation might take.

Quiz & Worksheet Goals

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

  • Salary ladder
  • Compensation management components
  • Various forms of compensation
  • Compensation management considerations

Skills Practiced

The worksheet and quiz let you practice the following skills:

  • Reading comprehension - make certain you grasp the most important points in the related lesson on parts of compensation management
  • Defining key concepts - ensure that you can accurately define main terms, such as salary ladder and compensation management
  • Interpreting information - verify that you can review information regarding different types of compensation and interpret it correctly

Additional Learning

In order to solidify your understanding of compensation management, review the accompanying lesson entitled What is Compensation Management? - Definition & Components. Among objectives covered in the lesson are the following:

  • Discuss how a benefit package might figure into compensation management
  • Explain titles and responsibilities as components of compensation management
  • Define the process of evaluation and analysis
  • Comment on what can determine advancement on the salary ladder
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