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Establishing Strategic Pay Plans
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Establishing Strategic Pay Plans
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Establishing Strategic Pay Plans
An ‘Equal Pay Act’ emphasizes compensable factors are such as
skills
efforts and responsibility
working conditions
all of above
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Establishing Strategic Pay Plans
Company’s paying strategies for employee’s learning organizational skills, included
pay for knowledge
skill-based pay
time based pay
Both A and B
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Establishing Strategic Pay Plans
The engineers and scientists analytical job’s needs
creativity
problem solving
training
Both A and B
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Establishing Strategic Pay Plans
The ‘educational level’ of executive is classified as
working capital
human capital
compensation capital
size of working capital
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Establishing Strategic Pay Plans
The method in which employer first choose higher and lowest, then secondly choosing the highest and the lowest is
alternation ranking method
point method
ranking method
job classification
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Establishing Strategic Pay Plans
The job evaluation process, in which the raters categorize jobs into groups is called
point method
job classification
job grading
aligned reward strategy
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Establishing Strategic Pay Plans
Comparison of fairness of job’s pay rate to the other jobs in company is called
external equity
collective equity
individual equity
internal equity
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Establishing Strategic Pay Plans
The first step in establishing pay rates is to
conduct salary survey
group similar jobs
price each pay grade
fine-time pay rates
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Establishing Strategic Pay Plans
Calculating numerical rating and arranging each job according to skill is called
point method
job grading
factor comparison method
alternation ranking method
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Establishing Strategic Pay Plans
The person’s fixed pay and guaranteed bonus is included in
base pay
short-term incentives
executive benefits
long-term incentives
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