Method of developing market-competitive pay? plan

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Reference no: EM132082020

1. How should the importance of each job factor be determined when using the point method of developing a? market-competitive pay? plan?

A. Develop pay grades

B. Define each? factor's degrees.

C. Use salary surveys.

D. Use wage curves.

E. Assign weights to compensable factors.

2. After determining the benchmark jobs in an? organization, _______ can help a company? price, or place value? on, those jobs.

A. pay grades

B. wage curves

C. salary surveys

D. ranking

E. rate ranges

3. Which of the following should be used to determine if a? firm's wages are too high or too low relative to what other firms are? paying?

A. Market wage rates

B. External wage curves

C. Pay grades

D. Internal wage curves

E. Salary surveys

4. Which of the following is an advantage to using pay ranges for each pay? grade?

A. It is easier to identify exempt and nonexempt employees.

B. It becomes easier to address pay for? non-benchmark jobs.

C. They allow employers to be more flexible when attracting experienced candidates.

D.They allow for less negotiation for new hires.

E.They allow employers to determine the exact worth of new hires.

5. Which of the following groups is usually compensated using a? market-pricing approach?

A.? Entry-level personnel

B. Assembly line workers

C. Professional employees

D. Company executives

E. ?Non-managerial roles

Reference no: EM132082020

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