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Establishing Strategic Pay Plans
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Establishing Strategic Pay Plans
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Establishing Strategic Pay Plans
The ways of direct financial payments are
increments based on time
increments based on piecework
increments based on overtime
increments based on occupations
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Establishing Strategic Pay Plans
On the basis of comparable jobs, the variables such as skills, responsibility and working conditions, considered as
logical factors
comprehensive factors
compensable factors
intuitive factors
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Establishing Strategic Pay Plans
The fairness of individual’s job pay rates in comparison to employees within the firm is included in
secondary equity
collective equity
primary equity
individual equity
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Establishing Strategic Pay Plans
‘Microsoft’ pays new programmers for learning Windows particulars, classified as
pay plan based on knowledge
pay plan based on title of job
pay plan based on tenure
pay plan based on performance
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Establishing Strategic Pay Plans
Each band in ‘broad banding’ contains
wide range of jobs
lesser range of job
only one type of job
unspecified job description
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Establishing Strategic Pay Plans
The demonstrable skills, knowledge or behaviors that enable employee’s performance are called
competencies
job description
job specification
job evaluation
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Establishing Strategic Pay Plans
An employee’s salary paid for his skills and knowledge is called
competency based pay
time based pay
internship based salary
training based pay
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Establishing Strategic Pay Plans
The ‘rate of return on investment’ is classified as
long-term shareholder value
calculating stock value
calculating return on investment
calculating working capital
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Establishing Strategic Pay Plans
The revenue growth is included in
short-term of shareholder value
compensation of company executive
determination of stocks
determination of investment
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Establishing Strategic Pay Plans
The competency based pay plan is more
person oriented
job oriented
tenure oriented
evaluation oriented
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