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Exam 10: Developing Compensation Plans

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Question 31

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Why do employers use pay ranges for each pay grade?

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There are several reasons to use pay ran...

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Question 32

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What is the benefit of using pay ranges for each pay grade?

A) facilitates the administration of a total rewards system
B) gives employers more flexibility in the labor market
C) identifies and corrects out-of-line pay rates
D) eliminates the need to use a compa ratio

E) None of the above
F) A) and B)

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Question 33

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Which of the following would most likely help an HR manager determine how many jobs in each pay grade are paid above or below competitive market pay rates?

Which of the following shows the relationship between the value and average pay of a job?

The Equal Pay Act focuses on three compensable factors-know-how,problem solving,and accountability.

________ refers to all forms of pay or rewards going to employees and arising from their employment.

Which job evaluation method is associated with most comparable worth court cases?

External equity refers to ________.

Lisa is an HR manager who has been assigned the task of establishing pay rates to ensure external equity.What should Lisa most likely do first?

A ________ pay system involves setting pay rates based on a comparison between internal pay and external pay.

External equity refers to how fair the job's pay rate is when compared to other jobs within the same company.

What is broadbanding? Why and how do firms use broadbanding?

HR managers and supervisors at Coffman Enterprises have identified a need for job evaluation and have gained the cooperation of employees.What is the next step in preparing for the job evaluation process?

The compensation for top executives at most firms consists of four components: short-term incentives,long-term incentives,executive benefits and perks,and base pay.

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.

________ means collapsing salary grades and ranges into just a few wide levels or bands,each of which contains a relatively wide range of jobs and salary levels.

Which of the following terms refers to a compensation plan that advances a firm's strategic goals?

Taxi drivers and agricultural workers are always considered exempt employees.

A company using competency-based pay compensates employees for all of the following EXCEPT ________.

Mark's employer uses a competency-based pay system,so Mark is paid for his skills and knowledge rather than his job responsibilities.