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Details about an exam for the reward systems module (mg568), including exam code, duration, questions, and instructions. The module focuses on pay strategies and psychological influences, total rewards model, and controlling labour costs. Questions cover topics like evaluating psychological theories, designing pay packages for different companies, and addressing retention issues.
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Exam Code(s) 1MSI Exam(s) Various
Module Code MG 568
Module Reward Systems
External Examiner Professor Geoffrey Wood Internal Examiners Maureen Maloney
Instructions Answer two questions. All questions will be marked equally. Answer all parts of each question.
Duration 2 hours
No. of Pages 3
Department Management
Course Co-ordinator Maureen Maloney
Requirements None
Release to library: Yes
Question 1
Critically evaluate the influence of one or two psychological theories on the ‘best fit’ and ‘best practice’ strategic approaches to pay.
Question 2
Two companies hire engineers. One is Google. The other is an Irish-owned traditional manufacturing company producing for a highly competitive export market. Using the ‘total rewards model’, describe an appropriate pay package for engineers at a similar level in each company.
Question 3 (Answer BOTH parts)
A US-based multinational with a subsidiary in the Manchester hires you as an intern to manage a ‘pay project’. They produce computer hardware and are finding it difficult to retain production operators. From exit interviews, the HR manager believes that their pay package is no longer competitive for this group of employees. She asks you to write a report:
a. describing factors from the external environment that may be impacting on this group of employees; and
b. prioritising approaches that can be used to ‘price’ this position.
Question 4
Describe the range of methods used by compensation and benefits specialists to control labour costs.
