Exam 10: Developing Compensation Plans

Why do employers use pay ranges for each pay grade?

Lisa is an HR manager who has been assigned the task of establishing pay rates to ensure external equity.What should Lisa most likely do first?

Mark's employer uses a competency-based pay system,so Mark is paid for his skills and knowledge rather than his job responsibilities.

________ refers to all forms of pay or rewards going to employees and arising from their employment.

Which of the following shows the relationship between the value and average pay of a job?

What is broadbanding? Why and how do firms use broadbanding?

The compensation for top executives at most firms consists of four components: short-term incentives,long-term incentives,executive benefits and perks,and base pay.

A company using competency-based pay compensates employees for all of the following EXCEPT ________.

Which of the following would most likely help an HR manager determine how many jobs in each pay grade are paid above or below competitive market pay rates?

Which of the following terms refers to a compensation plan that advances a firm's strategic goals?

What is the benefit of using pay ranges for each pay grade?

The Equal Pay Act states that employees of one sex may not be paid wages at a rate lower than that paid to employees of the opposite sex for doing roughly equivalent work.

HR managers and supervisors at Coffman Enterprises have identified a need for job evaluation and have gained the cooperation of employees.What is the next step in preparing for the job evaluation process?

________ means collapsing salary grades and ranges into just a few wide levels or bands,each of which contains a relatively wide range of jobs and salary levels.

The Equal Pay Act focuses on three compensable factors-know-how,problem solving,and accountability.

A ________ pay system involves setting pay rates based on a comparison between internal pay and external pay.

External equity refers to ________.

Which job evaluation method is associated with most comparable worth court cases?

External equity refers to how fair the job's pay rate is when compared to other jobs within the same company.

Taxi drivers and agricultural workers are always considered exempt employees.