Reference no: EM133152501
TRUE or FALSE
1. COLAS are usually across the board contractual increases tied to an economic indicator such as the price index.
2. Job Analysis is defined as the process of determining the information specific toa particular job.
3. Internal alignment, external competitiveness, employee contribution and management of the pay system are the four policies of compensation system
4. On a regular holiday, which is also an employee's rest day, an employee is entitled to an additional 40% of the regular holiday rate of 200% or a total of 240%.
5. Equity concept means fairness in compensation. employees want to perceive their pay as commensurate with their contributions in the organization.
6. In psychological concept, compensation is not a form of motivation
7. Compensation System must be linked to organizational objectives and strategies
8. Total reward programs provide the advantage of centralized administration in all employee-related concerns, including benefits, pay and training.
9. Internal Equity approach means that there is a hierarchy of value among jobs and that pay is determined according to the worth of each.
10. Employees who have resigned or have been severed from the company before the payment of the 13th month pay are not entitled to it.