As the Director of Compensation for a Multi-Location Retailer,Jeff Is

question 33

Multiple Choice

As the director of compensation for a multi-location retailer,Jeff is reviewing the design of his company's benefits.He must answer all of the following questions EXCEPT

• A) Which of the mandatory benefits can be dropped with the least negative impact on employee attitudes?
• B) How much total compensation should be offered to employees?
• C) What is the firm receiving in return for each benefit provided?
• D) How flexible should the package of benefits be?

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Definitions:

Going Rate

The current standard price or wage rate for goods, services, or labor in a particular market or industry.

Insurance Policy

A contract between an insurance company and a policyholder that outlines the terms and conditions under which the insurer agrees to compensate the insured for specific losses.

High Deductible

A health insurance plan feature requiring a higher out-of-pocket payment before insurance coverage begins.

Co-Payments

Fixed amounts paid by an insured person for covered services, in addition to what the insurance covers.