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Exam 8: Pay Structure Decisions

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Question 1

Multiple Choice

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Which theory states that market forces provide the most efficient means of pricing and allocating people to jobs?

A) Equity theory
B) Efficiency wage theory
C) Economic theory
D) Expectancy theory

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Question 2

Multiple Choice

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Actual pay is lagging behind the pay policy when the compa-ratio is:

A) greater than 1.00.
B) less than 1.00.
C) greater than 100.
D) in the range of 1 to 10.

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Question 3

Multiple Choice

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_____ refers to the relative pay of different jobs and how much they are paid.

The use of "banding" in organizations may mean fewer promotional opportunities for employees.

_____ refers to the relative pay of jobs in an organization.

An organization is paying their Associate Vice President of Human Resources the equivalent to the pay of the other Associate Vice Presidents within the organization as they all have relatively equal job evaluation points.The AVP of HR is earning more than HR AVPs in other organizations.The organization is focusing on what with regards to their approach to compensation?

Under a two-tier wage plan,employees doing the same job are paid two different rates,depending on their background and training.

_____ comparisons may be more important when attracting and retaining qualified employees is difficult,and when the costs of recruiting replacements are high.

Lower labour costs can be a reflection of __________________.

Compensation management could be improved in most organizations by:

A pay system where employees doing the same jobs are paid two different rates,depending on when they were hired is called _________.

Product market competition places a lower bound on labour costs and compensation.

Competency-based pay is generally directed toward:

Which of the following is a consequence of external equity perceptions in making pay level decisions?

Designing effective compensation programs and solving problems related to compensation is a complex matter that typically requires collecting,sorting and reporting a great deal of information before deciding what to do.What are two key factors of this process,explain them briefly.

A market pay policy line may be developed using job evaluation data and market pay survey data.

Why has there been widespread criticism of executive pay in recent years?

Discuss comparable worth by (1)defining it and (2)citing potential problems in its implementation.

Weighting factors based on expert judgment refers to:

Who are employees who are not eligible for overtime pay?