Exam 9: Managing Compensation

Wage-rate compression refers to the situation where employees perceive that there is too large a difference between their compensation and that of colleagues in higher-rated jobs.

To help achieve internal equity,factors such as skills,effort,responsibilities,and working conditions may be used to assess jobs.What do we call these factors?

The job classification system is commonly used by smaller employers.

Among the goals of strategic compensation policy are rewarding past performance,attracting new employees,and reducing turnover.

In geography,the water catchment area or watershed refers to the area that channels or supplies a specific area with its water.Catchment areas divide drainage basins.In wage surveys,what is this catchment area similar to?

Which of the following is NOT a characteristic of "key jobs" used in wage and salary surveys?

Which term refers to the concept of equal pay for work of equal value?

Which of the following is NOT a method of comparison used in job evaluation?

What do we call payment rates above the maximum of a pay range?

ABC Corporation is a furniture firm based in Ontario that supplies its products to the federal government.What laws would apply to ABC Corporation?

According to the textbook,what is the predominant approach to employee compensation in Canada?

An advantage of competence-based pay from the employee's perspective is that there is no limit to what they can earn by learning new skills.

When time off is given in exchange for overtime work,it must be given hour-for-hour to the number of hours worked overtime.

The jobs that are included in wage and salary surveys are referred to as "key jobs."

Which of the following is NOT a component of direct compensation?

When employees are paid according to the skills and knowledge they have rather than the specific jobs they perform,they are paid according to competence-based compensation.

Which of the following is a potential problem of wage and salary surveys?

Which of the following is a firm's internal factor that can influence the rates at which employees are paid?

Which of the following is a relatively new job evaluation system?

Job evaluation is a non-systematic,qualitative process of determining the relative worth of jobs in order to establish a comparison with the prevailing market and regional value of a job within a job family.