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Questions # 21:

Does internal or external wage have the most priority when designing a market data base pay structure?

Options:
A.

Internal wage

B.

External wage

C.

Both have equal priority

D.

It depends on the organization's compensation strategy

Expert Solution
Questions # 22:

What are some considerations when determining new hire rates?

Options:
A.

Local cost of living

B.

Industry standards

C.

Skills and qualifications required

D.

Company's budget constraints

Expert Solution
Questions # 23:

What is a shift differential?

Options:
A.

Additional pay provided for working on specific shifts or time periods

B.

The difference in pay between different job levels or grades

C.

Pay adjustments based on geographic location

D.

Pay supplements for hazardous work conditions

Expert Solution
Questions # 24:

What are the disadvantages of broadbands?

Options:
A.

Potential for pay compression and limited pay progression

B.

Increased administrative complexity

C.

Difficulty in establishing market competitiveness

D.

Lack of transparency in pay decisions

Expert Solution
Questions # 25:

Why is a job worth hierarchy used?

Options:
A.

To determine appropriate salary ranges for different job levels

B.

To incentivize high performance and productivity among employees

C.

To attract top talent from the market and maintain a competitive edge

D.

To comply with legal and regulatory requirements related to compensation

Expert Solution
Questions # 26:

What are some causes of demotion job changes?

Options:
A.

Performance issues, organizational restructuring, and job eliminations

B.

Promotions, lateral transfers, and skill development opportunities

C.

Salary increases, pay equity adjustments, and market-based pay adjustments

D.

Employee resignations, retirements, and terminations

Expert Solution
Questions # 27:

Who is eligible for a general increase or COLA?

Options:
A.

All employees within an organization

B.

Employees with high performance ratings

C.

Employees in specific job categories or grades

D.

Employees in unionized environments

Expert Solution
Questions # 28:

What are the elements of base pay structure design?

Options:
A.

Pay grades, pay ranges, and pay differentials

B.

Salary surveys, market pricing, and job analysis

C.

Salary structures, salary budgets, and salary surveys

D.

Pay policies, pay transparency, and pay compression

Expert Solution
Questions # 29:

What are advantages of a periodic pay increase?

Options:
A.

Long-term impact on base salary and employee retention

B.

Immediate recognition of performance and cost savings for the company

C.

Alignment with market practices and fairness in pay administration

D.

Increased motivation and recognition of employee contributions

Expert Solution
Questions # 30:

What are the main considerations when determining the number of pay structures in an organization?

Options:
A.

Organizational size, industry, and geographic locations

B.

Job complexity, skill requirements, and market competition

C.

Employee demographics, performance levels, and job classifications

D.

Payroll budget, cost constraints, and compensation strategy

Expert Solution
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