Download WGU C268 SPREADSHEETS USEFUL FORMULA GUIDE EXAM STUDY GUIDE 2026 QUESTIONS WITH ANSWERS GR and more Exams MS Microsoft Excel skills in PDF only on Docsity!
WGU C268 SPREADSHEETS USEFUL FORMULA
GUIDE EXAM STUDY GUIDE 2026 QUESTIONS
WITH ANSWERS GRADED A+
◉ indirect financial compensation. Answer: all the tangible and financially valued rewards that are not included in direct compensation including free meals, vacation time and health insurance ◉ nonfinancial compensation. Answer: rewards and incentives given to employees that aren't financial in nature ◉ base pay. Answer: reflects the size and scope of an employee's responsibilities ◉ severance pay. Answer: give to employees upon termination of their employment ◉ fixed pay. Answer: pays employees a set amount regardless of performance ◉ variable pay. Answer: bases some or all of an employee's compensation on employee, team, or organizational
◉ pay structure. Answer: the array of pay rates for different work or skills within a single organization ◉ pay mix. Answer: the relative emphasis give to different compensation components ◉ pay leader. Answer: organization with a compensation policy of giving employees greater rewards than competitors ◉ pay follower. Answer: an organization that pays its front-line employees as little as possible ◉ resource dependence theory. Answer: proposition that organizational decisions are influenced by both internal and external agents who control critical resources ◉ wage differentials. Answer: differences in wage between various workers, groups of workers, or workers within a career field ◉ labor market. Answer: all of the potential employees located within a geographic area from which the organization might be able to hire
◉ point factor method. Answer: uses a set of compensable factors to determine a job's value. skill, resp, effort, working cond. ◉ compensable factor. Answer: any characteristic used to provide a basis for judging a job's value ◉ skills, responsibilities, effort, working conditions. Answer: Four categories of compensable factors ◉ Hay Group Guide Chart - Profile Method. Answer: a point-factor system is used to produce both a profile and a point score for each position. know how problem solving accountability working conditions ◉ Know-how, problem solving, accountability, working conditions. Answer: Hay Group Method based on four main factors ◉ Position Analysis Questionnaire. Answer: a structured job evaluation questionnaire that is statistically analyzed to calculate pay rates based on how the labor market is valuing worker
characteristics. a copyrighted, standardized, structured job analysis questionnaire. 6 sections covering 187 job elements. ◉ job pricing. Answer: the generation of salary structures and pay levels for each job based on the job evaluation data ◉ single rate system, pay grades and broadbanding. Answer: Three most common job pricing systems ◉ pay grade (pay scale). Answer: the range of possible pay for a group of jobs ◉ broadbanding. Answer: using very wide pay grades to increase pay flexibility ◉ internal equity. Answer: when employees perceive their pay to be fair relative to the pay of other jobs in the organization ◉ employee equity. Answer: the perceived fairness of the relative pay between employees performing similar jobs for the same organization
◉ tax equalization payments. Answer: increased salary to make up for higher taxes that reduce take-home pay and decrease employee's purchasing power ◉ inflation adjustments. Answer: larger and/or more frequent raises to maintain employee's purchasing power in the face of inflation ◉ Fair Labor Standards Act of 1938. Answer: a federal law that sets standards for minimum wages, overtime pay, and equal pay for men and women performing the same jobs ◉ exempt employees. Answer: employees who meet one of the FLSA exemption tests, are paid on a fixed salary basis and are not entitled to overtime pay ◉ non-exempt employees. Answer: employees who do not meet any of one of the FLSA exemption tests and are paid on an hourly basis and covered by wage and hour laws regarding minimum wage, overtime pay and hours worked ◉ workers' compensation. Answer: a type of insurance that replaces wages and medical benefits for employees injured on the job in exchange for relinquishing the employee's right to sue the employer for negligence
◉ fixed rewards. Answer: predetermined compensation (salary and benefits) ◉ variable rewards (incentives). Answer: "at risk" rewards which are linked to factors determined as valuable, including performance, skills, competence and contribution ◉ - Recognize and reward high performers
- Increase the likelihood of achieving corporate goals
- Improve productivity
- Move away from an entitlement culture. Answer: Top four reasons organizations give for tying pay to performance ar ◉ - Preference of individual employees
- Size of the rewards for high performance
- Method of motivating individual job performance
- Objectivity of the evaluation process that determines the rewards. Answer: Before designing an incentive pay plan to motivate performance, it is important to consider the ◉ - Company performance
- Reduced merit increases
- Reductions in head count
◉ pay for performance programs. Answer: rewards employees based on some specific measure of their performance ◉ variable pay plans. Answer: pay for performance plans that put a small amount of base pay at risk, in exchange for the opportunity to earn additional pay if performance meets or exceeds a standard ◉ spot awards. Answer: awards given immediately when a desired behavior is seen ◉ extrinsic motivation. Answer: motivation that comes from outside the individual, including performance bonuses ◉ intrinsic motivation. Answer: derived from an interest in or enjoyment from doing a task ◉ skill-based pay. Answer: rewards for employees based on the range and depth of their knowledge and skills. effort and coop w/supervisor limited ability, partial proficiency, full competence ◉ limited ability. Answer: ability to perform simple tasks without direction
◉ partial proficiency. Answer: ability to apply more advanced principles on the job ◉ full competence. Answer: ability to analyze problems associated with the job ◉ competency-based pay. Answer: skill-based pay for professional jobs ◉ multi-crafting. Answer: employees gain proficiency in two or more trades ◉ recognition awards. Answer: rewards for specific achievements like tenure with the organization, helping a coworker or attendence ◉ compressed workweek. Answer: 40 hour work week in less than five days ◉ job sharing. Answer: two or more people split a single job ◉ flextime. Answer: scheduling option that lets employees decide when to work within parameters
◉ employee benefits. Answer: nonwage compensation or rewards given to employees (indirect compensation) ◉ Social Security, Unemployment Insurance, Workers' Compensation, Family Medical Leave Act, COBRA. Answer: 5 Mandatory Benefits ◉ Social Security. Answer: provides retirement income to qualified workers and their spouses after working a certain number of hours ◉ unemployment insurance. Answer: provides temporary income during periods of involuntary unemployment ◉ workers' compensation insurance. Answer: pays for medical costs and sometimes time off if an employee suffers a job-related sickness or accident, and survivor benefits in the case of an employee's death in exchange for relinquishing the employee's right to sue the employer for negligence ◉ Family and Medical Leave Act of 1993. Answer: requires most employers to provide employees up to 12 weeks of unpaid leave to care for family members ◉ Consolidated Omnibus Budget Reconciliation Act. Answer: provides a continuation of group health coverage for employees and
qualified beneficiaries that might otherwise be terminated when an employee experiences a qualifying event ◉ Customary benefits. Answer: commonly provided benefits that are viewed as an entitlement by employees insurance, retirement plans ◉ Life Insurance. Answer: pays a beneficiary or beneficiaries a sum of money after the death of an insured individual ◉ Disability insurance. Answer: supplements workers' compensation insurance to provide continued income in the event of an employee becoming disabled ◉ health insurance. Answer: health care coverage for employees and their dependents ◉ presenteeism. Answer: an employee physically comes to work but does not function at his or her full potential ◉ defined benefit retirement plans. Answer: promise participants a monthly benefit at retirement
◉ cumulative trauma disorders. Answer: skeletal and muscle injuries that occu when the same muscles are used to preform tasks repetitively ◉ Occupational Safety and Health Administration. Answer: created by the Occupational Safety and health Act to set and enforce protective workplace safety and health standards ◉ OSHA standards. Answer: rules describing the methods employers must legally follow to protect their workers from hazards ◉ - Imminent danger situations
- Fatalities & Catastrophes
- Complaints
- Referrals of hazard information from others
- Follow-ups
- Planned or programmed investigations. Answer: Order of Priority for OSHA Inspections ◉ Employee Wellness Programs. Answer: any initiative designed to increase company performance or employee performance or morale through improved employee health
◉ wellness incentives. Answer: rewards for engaging in healthy behavior or participating in wellness programs ◉ functional stress. Answer: manageable levels of stress that generate positive emotions including satisfaction, excitement and enjoyment ◉ dysfunctional stress. Answer: an overload of stress resulting from a situation of under- or over-arousal continuing for too long ◉ problem-focused coping strategies. Answer: deal directly with the cause of stress ◉ emotion-focused coping strategies. Answer: focus on the emotions brought on by the stressor ◉ workplace bullying. Answer: a repeated mistreatment of another employee through verbal abuse; conduct that is threatening, humiliating or intimidating; or sabotage that interferes with the other person's work ◉ workplace violence. Answer: any act of threat of physical violence, harassment, intimidation or other threatening disruptive behavior that occurs at the workplace
◉ Railway Labor Act. Answer: act that governs employment relations for airlines and railroads ◉ National Labor Relations Act of 1947 (Taft-Hartley Act). Answer: amended the Wagner Act to clarify what are considered unfair labor practices by unions and employees ◉ right to work laws. Answer: state laws that prohibit union shops in which all workers in a unionized workplace must join the union and pay dues ◉ union shops. Answer: all workers in a unionized workplace are forced to join the union and pay dues ◉ closed shop. Answer: shop that exclusively employs people who are already union members. Taft-Hartley Act made this illegal. ◉ agency shop. Answer: shop that requires nonunion workers to pay a fee to the union for its services in negotiating their contracts ◉ open shop. Answer: shop that does not discriminate based on union membership in employing or keeping workers.
◉ Labor Management Reporting and Disclosure Act of 1959 (Landrum-Griffin Act). Answer: act that outlined a Bill of Rights for union members and sets up procedures for union elections, discipline and financial reporting ◉ card check. Answer: employees sign a card of support if they are in favor of unionization. ◉ 50%. Answer: If at least ______ of workers sign a union authorization card, the NRLB requires the employer to recognize the union without a secret ballot election ◉ decertification election. Answer: an election to determine if a majority of employees want to no longer be represented by a union ◉ hard bargaining. Answer: taking a strong position on an issue ◉ surface bargaining. Answer: going through the motions of negotiations with no intent of reaching an agreement ◉ collective bargaining agreement. Answer: a legal written contract between organized labor and an employer that is enforceable through the negotiated grievance and arbitration procedure
