Exam 11: Establishing Strategic Pay Plans

While laws exist to protect against discrimination in compensation based on gender and age,no law protects against such discrimination against persons with disabilities.

The primary advantage of broadbanding is that it provides greater flexibility into employee assignments.

In a brief essay,compare and contrast the use of pay ranges with broadbanding.

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. All of the following questions are relevant to Homelife's decision to develop an aligned reward strategy EXCEPT ________.

Explain the equity theory of motivation.What are the four forms of equity?

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,supports the argument that Homelife should distribute salary surveys before establishing new pay rates?

In most cases,all of the following occupations are exempt from the overtime provisions of the Fair Labor Standards Act EXCEPT ________.

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?

Employers prefer to give time off in lieu of overtime pay because they only have to grant the same number of hours off as the employee worked overtime while overtime pay is calculated at 150% of normal pay.

Which act regulates vesting rights and portability rights?

Central basic factors that establish how several jobs compare to one another and that determine the pay for each job are called ________.

Which form of equity refers to the fairness of a job's pay rate in comparison to other jobs within the same company?

Which of the following terms refers to the requirement to pay men and women equal wages for jobs of roughly equivalent value to the employer?

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

Job evaluations are used to determine the pay scale of all employees in an organization from hourly workers to the CEO.

Which of the following terms refers to a series of steps or levels within a pay grade?

A ________ is comprised of jobs of approximately equal difficulty or importance as established by job evaluation.

Which of the following is NOT one of the compensable factors emphasized in the Equal Pay Act?

Which form of equity refers to how a job's pay rate in one company compares to the job's pay rate in other companies?

In the broadest sense,comparable worth may mean comparing jobs that are very dissimilar such as nursing to fire fighting.