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IRP 321 Compensation Management policies Objective Question
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Question

What is the core process involved in 'Compensation/reward management' as described in the document?
Options
A Evaluating employee performance for promotion.
B Designing and implementing a pay system to attract, retain, and motivate capable employees.
Correct Answer
C Conducting market surveys to determine salary benchmarks.
D Negotiating collective bargaining agreements with unions.
Correct Answer

Option B is the correct answer.

Detailed Explanation

Page 6 defines compensation/reward management as: 'the process of designing and implementing pay system that ensures that an organisation attracts, retains and motivates capable and willing employees needed to accomplish organisational goals and objectives.'

Hint

The definition highlights the purpose of this management function regarding employees and organizational goals.

Question Info

Course: IRP 321
Topic: Compensation Management policies
Type: Objective
Difficulty: Not specified
Question 5 of 59
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