Question

What is the definition of a defined benefit plan?

a. formal retirement plan that provides the participant with a fixed benefit upon retirement

b. retirement plan that requires specific contributions by an employer to a retirement or savings fund established for the employee

c. plan which allows employees to forgo specific benefits and receive the equivalent in increased pay

d. plan in which employees may defer income up to a maximum amount allowed

e. plan with an “escalator clause” that require the employer to provide a fixed percentage of the employee’s pay upon retirement, regardless of the inflation rate

Which of the following is NOT an approach to global staffing?

a. biocentric

b. geocentric

c. ethnocentric

d. polycentric

e. regiocentric

Differences in national cultures, such as those identified by Hofstede, have important implications for the way HRM activities and programs such as _____ are designed and conducted.

a. all of the others

b. compensation

c. orientation and socialization

d. training and development

e. selection and promotion

Answer 1

1. e. plan with an “escalator clause” that require the employer to provide a fixed percentage of the employee’s pay upon retirement, regardless of the inflation rate

Various factors need to be considered in order to ensure a better and effective method of pension calculation and payment to the employees while retirement.

2. a. biocentric

In general there are four major approach of global staffing and this is not one of them

3. a. All of the above