______ is a function of the value of the product or service that the organization sells to the customer.
Answer
Correct Answer:
Pay structure
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______ is the process of changing the company structure to get rid of some of the vertical hierarchy (reporting levels) in an organization.
Answer
Correct Answer:
Delayering
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______ of job evaluation break a job down into components then apply points to each of the factors based on that factor’s difficulty.
Answer
Correct Answer:
Point-factor methods
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The process of determining the worth of each position relative to the other positions within the organization is referred to as ______.
Answer
Correct Answer:
Job evaluation
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When jobs are distinctly different but entail similar levels of ability, responsibility, skills, and working conditions, they are of equal value and should have the same pay scale. This is the concept of ______.
Answer
Correct Answer:
Comparable worth
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______ is a higher-than-minimum, federally mandated wage, required for nonexempt employees if they work more than a certain number of hours in a week.
Answer
Correct Answer:
Overtime
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______ is the lowest hourly rate of pay generally permissible by federal law.
Answer
Correct Answer:
Minimum wage
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To attract better workers and enhance an organization’s employment brand, adopting a(n) ______ organizational philosophy on compensation could be helpful.
Answer
Correct Answer:
Above-the-market
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______ is(are) not one of the four basic components of compensation.
Answer
Correct Answer:
Expectancy pay
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Peyton and Annabelle are planning to hire some new workers for the coffee shop. Before placing a job ad, they are trying to figure out what they can afford to pay. Peyton and Annabelle are working on the ______ portion of their organizational philosophy on compensation.
Answer
Correct Answer:
Ability to pay
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______ suggests that employees are motivated to perform a task when they believe they can accomplish it and when the rewards for doing so are worth the effort.
Answer
Correct Answer:
Expectancy theory
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______ is the total of an employee’s pay and benefits.
Answer
Correct Answer:
Compensation
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The ______ and midpoint of pay for a certain group of jobs.
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Maximum & minimum,
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Define Wage compression
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When new employees require higher starting pay than the historical norm, causing narrowing of the pay gap between experienced and new employees.
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_____is a hierarchy of jobs and their rates of pay within the organization.
Answer
Correct Answer:
Pay structure
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Overtime is a higher than minimum, federally mandated wage, required for nonexempt employees if they work more than a certain number of hours in a week
Answer
Correct Answer:
True
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The lowest hourly rate of pay generally permissible by federal law is known as
Answer
Correct Answer:
Both a & c
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Process of determining the worth of each position relative to the other positions within the organization
Answer
Correct Answer:
Job evaluation
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A theory proposing that employees are motivated when they believe they can accomplish a task and that the rewards for doing so are worth the effort is known as
Answer
Correct Answer:
Expectancy theory
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An equity theory of motivation applies to employees who are often
Answer
Correct Answer:
Underpaid
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The process of changing the company structure to get rid of some of the vertical hierarchy (reporting levels) in an organization is known as
Answer
Correct Answer:
Delayering
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value and desire and that the employer is willing and able to offer in exchange.this statement correct for
Answer
Correct Answer:
Compensation system
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Broadbanding is Combining multiple pay levels into one.
Answer
Correct Answer:
True
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