In an Attempt to Motivate Its Current Employees and to Attract

question 70

Multiple Choice

In an attempt to motivate its current employees and to attract skilled professionals,Labyrinth Inc.decides to increase salaries as well as year-end bonuses to its best performers.Which of the following HR functions is demonstrated in this scenario?

• A) Performance management
• B) Training and development
• C) Recruitment
• D) Planning and administering pay and benefits
• E) Maintaining positive employee relations

Explain the occurrence and implications of externalities in market outcomes.

Comprehend the efficiency loss (deadweight loss) and its causes in economic transactions.

Identify examples of public goods in real-world scenarios.

Understand the principle of marginal-cost-marginal-benefit analysis in decision-making.

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Definitions:

Semi-Autonomous Responsibility

The granting of partial autonomy and control to employees or teams over their work and decision-making processes.

Formalization

The extent to which rules, procedures, and standards are written and explicitly articulated within an organization.

Duplication

The act of making an exact copy of something, often used in the context of data replication or the reproduction of research results for validation.

Underutilization

The situation where resources, such as personnel, equipment, or capacity, are not being used to their full potential.