Exam 11: Establishing Strategic Pay Plans

Which of the following questions is most relevant to developing a market competitive pay system?

If a job evaluation committee uses the ranking method,then the pay grade consists of all jobs that fall within two or three ranks.

Which of the following best describes the point method of job evaluation?

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

Which of the following terms refers to pay in the form of financial benefits,such as insurance?

Studies indicate that paying employees too little reduces morale,while overpaying people improves morale.

What has historically been the key issue in collective bargaining?

What is the primary purpose of offering an executive stock options in a compensation package?

Which of the following issues is NOT addressed by the Fair Labor Standards Act ?

Jason is an information systems technician in a town in North Carolina with a population of 100,000.He receives an annual salary of $35,000.He recently found out that a nearby town with a similar population pays people in the same position $40,000 annually.With which of the following is Jason most concerned?

Homelife,a national chain of high-end furniture stores,employs nearly 800 workers.In the past few years,the company's market share has dropped significantly,and employee turnover has increased.Upper management is considering the implementation of a new compensation policy in its efforts to turn the company around.Historically,the company has paid all employees similarly with some variation for seniority but no distinction between high and low performers. Which of the following,if true,best supports the decision by Homelife executives to implement competency-based pay?

External equity refers to ________.

In a brief essay,discuss the purpose of job evaluations.Discuss the similarities and differences between job evaluations conducted for managerial positions and lower level positions at a firm.

Which of the following was enacted in 1931 for the purpose of setting wage rates for laborers and mechanics employed by contractors working for the federal government?

Jill works as a cashier at a grocery store.She earns $10 an hour (or $400 for a 40-hour week).Last week,she worked 46 hours.What is the minimum amount that Jill earned last week?

What are the advantages for employers of claiming that someone doing work for them is an independent contractor rather than an employee?

When using the job evaluation method of job classification,raters categorize jobs into groups of similar jobs called ________.

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.

Joseph worked 6 hours of overtime this week but has decided to take time off instead of overtime pay.How many hours will Joseph receive in time off from work?

A union is entitled to know the salary of each employee it is representing.