Exam 8: Designing Pay Levels, Mix, and Pay

Pay ranges for managerial jobs are larger than the ranges for other jobs because these jobs have greater opportunity for both discretion and performance than lower-level jobs.

Aging the market data to a point halfway through a plan year is called _____.

Regression smoothes large amounts of data while minimizing variations.

The second major decision in pay-level determination is to _____.

Size of pay differentials between grades should _____.

Many employers use market surveys to validate their own job evaluation results.

A pay range exists when at least two employees in the same job are paid different rates.

The final major decision in pay-level determination is to _____.

Which of the following statements is true regarding broad bands?

In cases where the content of an organization's jobs does not sufficiently match that of the jobs in the salary survey,an effort can be made to quantify the difference via benchmark conversion.

Gramhold Inc. ,a pharmaceutical company,reduces its 10 salary grades to just three broad bands.Which of the following statements is most likely to be true in this case?

Career moves between bands are more common than within bands.

Which of the following statistical measures shows how similar or dissimilar the market rates are from each other?

The first step in setting competitive pay and designing a pay structure is to _____.

In most organizations,the responsibility for managing a pay survey lies with _____.

Managers often regard external market data as more objective than internal job evaluation.

Turnover and organizational revenues are examples of survey data collected to gather competitive intelligence.

Which of the following jobs would most likely fall into a fuzzy market?

Aging the market data to a point halfway through the plan year is called lead/lag.

_____ measures reveal competitors' use of performance-based cash payments.