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Q:
In a two-tier wage system, employees hired after a specific date are placed in a higher wage scale than those hired prior to that date.
Q:
Benefits account for nearly 38 percent of total compensation for unionized workers.
Q:
A large number of studies found union workers earn from 15-20 percent more than non-union.
Q:
Wage concessions have become more prominent in recent years.
Q:
Unions respond relatively rapidly to wage increases during inflationary periods.
Q:
Over the past 30 years, wage increases in the non-union sector have grown faster than among union workers.
Q:
Historically, union wages have experienced multiple-year upswings followed by multiple-year downswings.
Q:
Estimates of a union's impact on wages by comparisons of different industries show clearly that unionization raises wages an average of 35 percent.
Q:
Wage concessions given by non-union firms lead to an underestimate of the effect of unions on wages.
Q:
Strong management efforts to lower the impact a union has on wages have been successful in recent years.
Q:
Generally, unions support a two-tier wage system.
Q:
When management shows little concern for its employees and workplace relations are bad, employees may support a unionization effort.
Q:
There is evidence that an increase in the percent of imports reduces the union wage differential.
Q:
From 1983 to 2011, union membership increased slightly to approximately 20 percent.
Q:
There is some evidence that gain-sharing plans are more common in __________ than ___________.A. service industries, manufacturingB. union, non-unionC. large companies, small companiesD. small companies, large companies
Q:
In most companies a union would prefer to implement a _____ than some form of _________A. pay-for knowledge pay system; gain-sharing planB.gain-sharing plan; pay-for knowledgeC.merit pay system; pay-for knowledgeD.reward-sharing system; merit pay system
Q:
With gain-sharing plans, the most common union strategy is to _____.
A.delay taking a stand
B.be very enthusiastic
C.have direct opposition to the plans
D.have no concern for the plans
Q:
Which of the following is true regarding a gainsharing plan?
A.It prevents union members from sharing the wealth.
B.It creates a difficulty in maintaining employment levels in marginal organizations.
C.It becomes ineffective when union members participate in plan development.
D.Not all unions would be in favor of this type of plan.
Q:
Which of the following plans aligns workers and management in efforts to streamline operations and cut costs?
A.Employee stock ownership plans
B.Pay-for-knowledge plans
C.Gain-sharing
D.Profit-sharing
Q:
Pay-for-knowledge plans do all of the following except _____.A.allow employees to be less expendableB.increase the probability that work can be subcontractedC.make each individual employee more valuableD.pay employees more for learning a variety of different jobs or skills
Q:
Unions may favor _____ because they make each individual worker more valuable, and less expendable, to the firm.A.pay-for-knowledge plansB.ESOPsC.lump-sum awardsD.gain-sharing
Q:
Which of the following plans gives employees part ownership in the company?
A.ESOPs
B.Pay-for-knowledge plans
C.Gain-sharing
D.Profit-sharing
Q:
For the past 10 years, a stable _____ of all major collective bargaining agreements in the private sector have contained a provision for lump-sum payouts.
A.three-fourths
B.one-half
C.one-quarter
D.one-third
Q:
_____ awards are one-time cash payments to employees, not added to an employee's base wage.
A.Skill-based
B.Merit increase
C.Lump-sum
D.Cash bonus
Q:
A major reason unions accept alternative rewards is:
A.competition from rival unions.
B.international competition.
C.these rewards are very popular among members.
D.strong management forces their acceptance.
Q:
Most unions insist on group-based performance measures with equal payouts to members because it _____.
A.enables employees to learn to new skills
B.cuts down on strife and internal quarrels
C.encourages individual differences
D.causes a spillover effect
Q:
A reopener clause specifies that wages or nonwage items can be renegotiated _____.
A.at a specified time or under certain conditions
B.periodically based on changes in the consumer price index
C.at anytime that is convenient for both employer and employee
D.annually at the start date of the contract
Q:
Which of the following involves periodic adjustments based typically on changes in the consumer price index?
A.A COLA clause
B.A deferred wage increase
C.A reopener clause
D.An annual improvement adjustment
Q:
A deferred wage increase _____.
A.specifies that wages will be renegotiated at a specified time
B.specifies that sometimes such nonwage items as pension and benefits will be renegotiated under certain conditions
C.is negotiated at the time of initial contract negotiations with the timing and amount specified in the contract
D.involves periodic adjustments based typically on changes in the consumer price index
Q:
Wage adjustments in multiyear contracts may be specified in all of the following ways except _____.
A.cost-of-living adjustments
B.deferred wage increases
C.reopener clauses
D.adjustment clauses
Q:
_____ is the movement through the wage ranges where seniority is specified as the basis.
A.Length-of-stay clause
B.Automatic progression
C.Experience differential
D.Occupation differential
Q:
Most union contracts recognize that different occupations should receive _____ wage rates.
A.equal
B.different
C.experience
D.merit
Q:
Which of the following statements about single rates is true?
A.Single rates are usually specified for workers within a particular job classification.
B.Single-rate agreements differentiate wages on the basis of seniority.
C.Workers with varying years of experience and output receive different single rates.
D.Single-rate agreements differentiate wages on the basis of merit.
Q:
The role of unions in administering compensation is outlined primarily in the contract. The vast majority of contracts specify that _____.A.overtime pay will be paid beyond a certain number of hoursB.a premium will not be paid above the worker's base wage for working nonstandard shiftsC.an employee must remain within a certain base wage for a certain length of timeD.one or more jobs are to be compensated on a yearly basis
Q:
Employers seeking to avoid unionization by offering workers the wages, benefits, and working conditions won in rival unionized firms is known as _____.
A.automatic progression
B.the spillover effect
C.market negotiations
D.the equal mirror effect
Q:
The gap between workers and their managers is 27 percent smaller in unionized firms because _____.
A.managers in union firms receive lower wages
B.worker wages are less likely to go up in unionized firms
C. managers in nonunion firms receive higher wages to maintain internal equity
D.worker wages go up faster than manager wages in unionized firms
Q:
Tiers can be used as a cost-cutting device to allow _____.
A.economic survival
B.expansion
C.investment
D.accretion
Q:
Tiers can be used as a cost control strategy to allow _____.
A.deflation
B.economic survival
C.expansion
D.divestiture
Q:
Which of the following is not one of the main dimensions of structuring wage packages?A.Union versus nonunion members' preferencesB.The division between direct wages and employee benefitsC.Use of two-tier pay plansD.The relationships between worker wages and their managers' pay
Q:
Basically a phenomenon of the union sector, two-tier wage structures differentiate pay based upon the _____.
A.type of work
B.hiring date
C.place of work
D.length of contract, if applicable
Q:
In a _____ pay plan, a contract is negotiated that implements two wage scales, a lower one for employees hired after a given date and a higher scale for those hired before.
A.person-based
B.efficiency-based
C.one-tier
D.two-tier
Q:
Which of the following is one of the reasons that a union may increase employee benefits?
A.Increased management control
B.Unions discourage the development of two-tier pay plans
C.Strong union-worker preference for benefits
D.Unions lead to a reduction in wage differentials
Q:
Research indicates that the presence of a union adds about _____ to employee benefits.
A.5 to 15 percent
B.20 to 30 percent
C.30 to 40 percent
D.over 50 percent
Q:
One dimension of wage package structuring concerns the division between _____ and _____.
A.direct wages; employee benefits
B.paid vacation; time off with out pay
C.employee skills; job requirements
D.task difficulty; working conditions
Q:
Union employees in the public sector earn, on average, about _____ more than their nonunion counterparts.
A.40 percent
B.5 percent
C.14 percent
D.22 percent
Q:
The largest gains for public sector employees are reported for _____.
A.teachers' unions
B.firefighters
C.telecommunication unions
D.postal services
Q:
During periods of higher unemployment, the impact of unions is _____.
A.unknown
B.the same as periods of low unemployment
C.smaller
D.larger
Q:
A study of unions in 114 companies concluded that _____.
A.unions made a difference in wages in half of the companies
B.unions made a difference in wages in only a few industries
C.unions made a difference in wages across all studies and time periods
D.unions were not responsible for any differences in wages
Q:
Which of the following industries does not enjoy as much larger union-nonunion differentials as the others?
A.Utilities
B.Construction
C.Transportation
D.Agriculture
Q:
Company A and Company B are in the same industry, but Company A is unionized and Company B is not. Therefore _____.A.any wage differences must be attributed to the presence of the union in Company AB.any wage differences may not be attributed to the presence of the union, although the possibility existsC.Company B will be forced to form a union to compete with Company AD.any wage differences will never be attributed to the presence of the union
Q:
Which of the following is not one of the areas on which unions have a major impact?
A.General benefit levels
B.Customer service
C.Structure of wages
D.Salary policies and practices
Q:
Workers begin to show a strong interest in joining a union when _____.
A.management is not unreliable.
B.workplace relations are bad.
C.workers feel they have influence over decisions affecting them.
D.it is a condition of employment.
Q:
Which of the following is not one of the popular explanations for the decline of union memberships?
A.Workers do not view unions as a solution to their problems. B.Increased management resistance to unions.
C.Less intensity of union organizing efforts.
D.Growing industries are most heavily unionized, while declining industries are less so.
Q:
Which of the following statements regarding unions is not true?
A.Union membership has fallen from approximately 20 to 12 percent since 1983.
B. Approximately 37 percent of the public sector and 7 of the private are unionized.
C. Since 1977, unions have been losing more certification elections.
D. Since 1977, the number of certification elections has declined.
Q:
Which of the following is not a reason for the recent decline in the use of stock options in executive pay?
A.There has been growing pressure to expense stock options in annual reports.
B.Stockholders dissatisfaction with treating stock options as a free good.
C.Financial Accounting Standard number 313 raises the cost of using stock options.
D.Stock options do not pay for executive performance.
Q:
Annual bonuses often play a major role in executive compensation and are primarily designed to _____.
A.motivate better short-term performance
B.satisfy unique needs and preferences
C.meet the needs of employees to receive rewards, reinforcements, and general counseling
D.meet production goals
Q:
The _____ component of executive compensation has grown the most since the 1970s.
A.long-term incentives
B.perks
C.short-term incentives
D.base salary
Q:
_____ is (are) a relatively uncommon form of board of directors' pay.
A.Approximately $55,000 in cash
B.Long-term incentives
C.Both cash and long-term incentives
D.Tying pay to stock performance
Q:
The proportion of outside-to-inside the company members of the board of directors in two-thirds of companies is _____.
A.more insiders than outsiders
B.approximately the same of each
C.more outsiders than insiders
D.there is no clear trend
Q:
The differential between supervisors' base pay and their highest paid subordinate is typically _____ percent.
A.10-20
B.5- 30
C.15- 20
D.15- 35
Q:
The biggest trend in supervisory pay is _____.
A.increased use of variable pay
B.paying overtime at time-and-a-half
C.maintaining a differential above the highest paid subordinate
D.offering stock options and enhanced benefits
Q:
Equity is the major compensation challenge for _____.
A.sales staff
B.professionals
C.executives
D.supervisors
Q:
All of the following except _____ would be considered a special compensation group.
A.sales staff
B.contingent workers
C.workers covered by the ADA
D.professionals
Q:
Executives, supervisors and sales staff often receive special compensation treatment because _____.
A.these jobs face conflicting demands
B.these jobs are exempt under FLSA
C.recruiting and retention is difficult for these jobs
D.these jobs are covered under the Sarbanes-Oxley Act
Q:
In which of the following situations would engineering jobs most likely be treated as a special compensation group?
A.Mechanical and civil engineers employed at a large city
B.Computer engineers employed at a software firm
C.Mechanical engineers employed at a farm equipment manufacturer
D.Environmental engineers at a waste disposal company
Q:
Briefly describe the role of contingent workers. Why are most U.S. employers hiring contingent workers? What is the compensation challenge for contingent workers?
Q:
Describe how executives ensure themselves high compensation.
Q:
Describe the types of long-term incentives for executives.
Q:
Explain any one element of an executive compensation package in detail.
Q:
List the components of an executive compensation package.
Q:
Discuss the compensation strategy for corporate directors.
Q:
Discuss the types of conflict faced by professional employees with an example.
Q:
What are the types of conflict faced by supervisors?
Q:
Who are special groups? What are the characteristics that special groups share?
Q:
Two ways organizations are dealing with equity issues for contingent workers are "boundaryless" careers and hiring top performers as regular employees.
Q:
Independent contractors generally are less expensive for employers since they receive no benefits.
Q:
Independent contractors typically earn less than other contingent workers.
Q:
During recessions, top salespeople's compensation is likely to increase.
Q:
When the product is complex such as security systems, the compensation system should be heavily commission based.
Q:
Compensation packages for salespeople must be competitive because salespeople tend to compare their pay with competitors.