Which one of the following terms refers to pay in the form of financial benefits such as employer paid insurance and vacations?

64) Homelife, a national chain of high-end furniture stores, employs nearly 800 workers. In the past few years, the company's market share has dropped significantly, and employee turnover has increased. Upper management is considering the implementation of a new compensation policy in its efforts to turn the company around. Historically, the company has paid all employees similarly with some variation for seniority but no distinction between high and low performers.

Which of the following, if true, best supports the decision by Homelife executives to implement competency-based pay?
A) Homelife will be using the comparable worth method of determining pay to avoid legal problems.
B) Most Homelife managers are men, but executives hope to increase the number of minority women working for the company.
C) Homelife plans to organize employees into teams, provide regular training, and frequently assess workers' skills and knowledge.
D) In an effort to save money, Homelife will be reducing the employee training budget over the next three years.

Sets with similar terms

Which one of the following terms refers to all forms of pay?

What constitutes financial benefits in terms of pay?

What type of pay plan is being used when workers are paid a sum for each unit they produce?

What are examples of fringe benefits?