MHR 523 Chapter Notes - Chapter 6: Lululemon Athletica, Total Rewards, Unemployment Benefits

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14 Dec 2017

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Mhr 523: employee rewards, pay for performance, and financial incentives. The compensation plan should first advance the firm"s strategic aims management should produce an aligned reward strategy. This means creating a compensation package (including wages, incentives, and benefits) that produces the employee behaviours the firm needs to achieve its competitive strategy. Five components of total rewards (exam: compensation: the money directly coming to you a. Incentives: benefits, work-life programs, performance and recognition, development and career opportunities. Employee compensation includes all forms of pay going to employees and arising from their employment. Direct (wages, salaries, incentives(money first and then behavior), commissions, and bonuses (behavior then money) ) taxed. Indirect (financial benefits like employer-paid insurance and vacations). It has a strong culture and high priced products. Lululemon pays its employees a few dollars above minimum wage, even though their competitors pay their employees minimum wage. Lululemon also offers its employees benefits related to yoga and discounted gym memberships.

Related Questions

MUTIPLE CHOICE; CIRCLE THE CORRECT ANSWER. FOR TRUE/FALSE, JUST CIRCLE T OR F

31) According to research cited in the text, what is the primary reason that top-performing/high commitment employees gave for voluntarily leaving an organization?

A) career development

B) work-life balance

C) promotions

D) salary

32) The process of advising, counseling, and guiding employees is known as ________.

A) coaching

B) appraising

C) assessing

D) mentoring

33) ________ is a process for enabling employees to better understand and develop their career skills and interests and to use these skills and interests most effectively within the company and afterwards.

A) Career management

B) Career development

C) Career planning

D) Performance management

34) Jackie is working with a coach to identify her personal skills and interests. Afterwards, she will investigate opportunities that fit her skills and interests and set specific career goals. In which of the following activities is Jackie most likely participating?

A) career management

B) career development

C) career planning

D) job training

35) Which of the following is the simplest and most often used method for predicting the future performance of a candidate for promotion?

A) prior performance

B) aptitude tests

C) assessment centers

D) psychological exams

36) Poor attendance and voluntary turnover are most likely characteristics of ________.

A) decreasing employee engagement

B) minimal job expectations

C) shrinking labor markets

D) poor supervision

37) Which of the following terms refers to all forms of pay or rewards going to employees and arising from their employment?

A) salary

B) employee benefits

C) wage reimbursement

D) employee compensation

38) John is a sales representative in a jewelry store. He typically works 40 hours per week and his pay is completely based on his sales. He earns a 5% commission for every sale he makes. Which of the following terms best describes John's situation?

A) performance-based compensation

B) indirect financial compensation

C) time-based compensation

D) piecework pay

39) Which of the following is NOT a type of direct financial payment?

A) wages

B) insurance

C) incentives

D) commissions

40) John is a sales representative in a jewelry store. He typically works 40 hours per week and his pay is completely based on his sales. He earns a 5% commission for every sale he makes. Which of the following terms best describes John's situation?

A) performance-based compensation

B) indirect financial compensation

C) time-based compensation

D) piecework pay

MHR 523 Chapter Notes - Chapter 6: Lululemon Athletica, Total Rewards, Unemployment Benefits

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