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INDU1106-Rewards Flashcards | StudBud
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INDU1106-Rewards
INDU1106-Rewards
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Kick of your course with a quiz that can help set the tone and expectations for the coming semester.
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
What was a major challenge Tesco faced when implementing its financial wellbeing strategy?
Resistance from senior management
High implementation costs
Lack of interest from employees
Ensuring inclusivity across different income levels
2
What is the name of Tesco's online tool that provides personalized pension details and savings advice?
Pay Advance
Employee Savings Plan
Tesco Financial Hub
Total Reward Statements
3
Which Tesco initiative saw a 43% increase in participation in 2022, helping employees save £1 million?
Deals and Discounts
Pay Advance
Cycle-to-Work Scheme
Extra Hours Marketplace
4
What role do Wellbeing Champions play in Tesco’s strategy?
They handle payroll and employee bonuses
They manage employee complaints related to rewards
They decide on employees’ financial incentives
They support colleagues with financial wellbeing initiatives (ambassadors)
5
What was Tesco’s approach to communicating its financial wellbeing programs to offline employees?
Sending emails with detailed instructions
Announcing changes only in team meetings
Requiring all employees to access an online portal
Using printed materials with QR codes
6
Since launching its financial wellbeing hub, how many total page views has Tesco recorded?
1 million
2 million
500,000
5 million
7
Which initiative allows Tesco employees to access their wages before payday?
Extra Hours Marketplace
Pay Advance
Save As You Earn
Tesco Loan Scheme
8
How does Tesco support employees in increasing their earnings?
By offering annual salary increments
By giving performance-based bonuses
By offering discounts on Tesco products
By implementing Serve, Pick, &Fill training &ExtraHours Marketplace
9
Why did Tesco launch its financial wellbeing strategy?
To increase employee productivity
Keeping up with the coursework through the semester
Group projects
To improve financial literacy and support employees
10
What are the three pillars of Tesco’s financial wellbeing framework?
Work, Earn, Retire
Learn, Borrow, Save
Earn, Spend, Invest
Plan, Budget, Save
