QUESTIONS AND 100 CORRECT WELL DETAILED

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QUESTIONS AND 100% CORRECT WELL DETAILED

ANSWERS|LATEST

UPDATE!!!!2025/2026|GUARANTEED

Direct financial compensation - ANSWER compensation received in the form of salary, wages, commissions, stock options or bonuses

indirect financial compensation - ANSWER all the tangible and financially valued rewards that are not included in direct compensation including free meals, vacation time and health insurance

nonfinancial compensation - ANSWER rewards and incentives given to employees that aren't financial in nature

base pay - ANSWER reflects the size and scope of an employee's responsibilities

severance pay - ANSWER give to employees upon termination of their employment

fixed pay - ANSWER pays employees a set amount regardless of performance

variable pay - ANSWER bases some or all of an employee's compensation on employee, team, or organizational

pay structure - ANSWER the array of pay rates for different work or skills within a single organization 1 / 4

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pay mix - ANSWER the relative emphasis give to different compensation components

pay leader - ANSWER organization with a compensation policy of giving employees greater rewards than competitors

pay follower - ANSWER an organization that pays its front-line employees as little as possible

resource dependence theory - ANSWER proposition that organizational decisions are influenced by both internal and external agents who control critical resources

wage differentials - ANSWER differences in wage between various workers, groups of workers, or workers within a career field

labor market - ANSWER all of the potential employees located within a geographic area from which the organization might be able to hire

cost of living allowances - ANSWER clauses in union contacts that automatically increase wages base on the U.S. Bureau of Labor Statistics' cost of living index

market pricing - ANSWER uses external sources of information about how others are compensating a certain position to assign value to a company's similar job

Compensation surveys - ANSWER surveys of other organizations conducted to learn what they are paying for specific jobs or job classes

benchmark jobs - ANSWER jobs that tend to exist across departments and across diverse organizations allowing them to be used as a basis for compensation comparisons

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job evaluation - ANSWER a systematic process that uses expert judgement to assess differences in value between jobs

ranking methos - ANSWER subjectively compares jobs to each other based on their overall worth to the organization

job classification method - ANSWER subjectively classifies jobs into an exiting hierarchy of grades and categories

point factor method - ANSWER uses a set of compensable factors to determine a job's value. skill, resp, effort, working cond.

compensable factor - ANSWER any characteristic used to provide a basis for judging a job's value

skills, responsibilities, effort, working conditions - ANSWER Four categories of compensable factors

Hay Group Guide Chart - Profile Method - ANSWER a point-factor system is used to produce both a profile and a point score for each position.know how problem solving accountability working conditions

Know-how, problem solving, accountability, working conditions - ANSWER Hay Group Method based on four main factors

Position Analysis Questionnaire - ANSWER a structured job evaluation questionnaire that is statistically analyzed to calculate pay rates based on how the labor market is valuing 3 / 4

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worker characteristics. a copyrighted, standardized, structured job analysis questionnaire. 6 sections covering 187 job elements.

job pricing - ANSWER the generation of salary structures and pay levels for each job based on the job evaluation data

single rate system, pay grades and broadbanding - ANSWER Three most common job pricing systems

pay grade (pay scale) - ANSWER the range of possible pay for a group of jobs

broadbanding - ANSWER using very wide pay grades to increase pay flexibility

internal equity - ANSWER when employees perceive their pay to be fair relative to the pay of other jobs in the organization

employee equity - ANSWER the perceived fairness of the relative pay between employees performing similar jobs for the same organization

external equity - ANSWER when an organization's employees believe that their pay is fair when compared to what other employers pay their employees who perform similar jobs

comparable worth - ANSWER if two jobs have equal difficulty requirements, the pay should be the same, regardless of who fills them

wage rate compression - ANSWER starting salaries for new hires exceed the salaries paid to experienced employees

golden parachute - ANSWER lucrative benefits given to executives in the event the company is taken over

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