Exam 10: Developing Compensation Plans

Because the minimum wage is set by the Fair Labor Standards Act,there is no variation among states in regarding the minimum wage paid to hourly workers.

________ is a formal and systematic comparison of jobs to determine the worth of one job relative to another.

What is a disadvantage of the job classification method?

During difficult economic times,firms are more likely to base pay on competencies rather than job evaluations.

Which compensation-related law contains provisions for minimum wage,maximum hours,overtime pay,equal pay,and child labor?

Kayla,an HR manager,is in the process of creating a market-competitive pay plan.For an accounting job at the firm,she has assigned the following weights: 70% for job complexity,25% for effort,and 5% for working conditions.Assuming that Kayla is working with a total number of 1,000 points,what is the maximum number of points for job complexity?

The purpose of conducting a salary survey is to ________.

Indirect payments that contribute to an employee's compensation include variable pay like commissions and bonuses.

A total rewards package encompasses not only compensation and benefits but also personal and professional growth opportunities.

Which job evaluation method is considered the simplest and least expensive?

Which 1931 law allows the secretary of labor to set wage rates for laborers employed by contractors working for the federal government?

County of Washington v.Gunther was an important case regarding ________.

Financial benefits like employer-paid insurance and vacations are not a part of employee compensation.

As an HR manager,how would you establish pay rates while ensuring external,internal,individual and procedural equity?

An exempt employee is eligible for overtime pay.

Employers use salary surveys in all the following ways EXCEPT to ________.

According to research,U.S.women earn approximately ________ as much as men.

Which law requires time-and-a-half pay for any hours worked over 40 hours per week involving government contracts amounting to $10,000 or more?

Internal equity refers to ________.

A(n)________ wage curve would most likely indicate whether a firm's pay rates are too low compared to what other firms pay.