Exam 8: Designing Pay Levels, mix, and Pay Structures

How is a relevant labor market defined?

An organization that has a match (pay)policy will pay its employees:

_____ shows how competitors value work in similar jobs.

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

The final step in determining externally competitive pay levels and structures is merging internal and external pressure.

The relevant labor market for accounting,sales or clerical skills should be limited to each industry in which these types of work are found.

The _____ publishes extensive information on various occupations in different geographic areas.It is a major source of publicly available compensation data.

Pay surveys include information about both all forms of cash compensation and benefits.

Salary.com provides fewer different job descriptions for a similar job title such as programmer than the BLS survey.

Grades and ranges or bands recognizes both external and internal pressures on pay decisions.

Adjustments to forms of pay occur more often than adjustments to overall pay level.