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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 procedure of ranking jobs or grouping in clusters is included in
getting job information
combining ratings
ranking jobs
selecting and grouping jobs
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Establishing Strategic Pay Plans
The compensations and reward packages are designed for employees, must help company to achieve its
mission
vision
strategic goals
compensation strategy
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Establishing Strategic Pay Plans
The second step in pay rate establishment is to ensure the
internal equity
external equity
procedural equity
collective equity
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Establishing Strategic Pay Plans
Bonuses are the part of
direct financial payments
payroll
counseling
indirect financial payments
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Establishing Strategic Pay Plans
The third step in ‘ranking method’ of evaluating job method is to
select compensable factors
combine ratings
rank jobs
select and group jobs
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Establishing Strategic Pay Plans
The salary survey can be conducted through
primary data
secondary data
collective equity
both A and B
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Establishing Strategic Pay Plans
The ranging and grading salary into just few levels is called
broad banding
less branding
competency model
skill based pay model
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Establishing Strategic Pay Plans
An theory states that employees seek balance between the offered services and taken salaries is called
equity theory of motivation
equity theory of salaries
equity theory of wages
equity theory of compression
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Establishing Strategic Pay Plans
The techniques which allow employer for flexible labor stance is
job classification
job evaluation method
job ranking technique
pay ranges
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Establishing Strategic Pay Plans
The traditional pay plan used in companies is mostly
person oriented
job oriented
tenure oriented
evaluation oriented
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