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Chapter 8 warm up
Terms in this set (10)
Deciding on the number of pay structures
Which is the first step in constructing a pay structure?
The halfway mark on the pay range of minimum and maximum rates
Which of the following describes midpoint pay value?
________ are blueprints that describe the allocation of monetary resources.
Non-recurring merit pay increases strengthen the pay-for-performance link and contain costs for the company.
What is the key advantage associated with nonrecurring merit pay increases?
Juan works as a salesperson for a major farming equipment manufacturer. Usually, there is considerable lead time between when he approaches a prospective client and when the sale is finalized. Juan typically generates demand for the product and another member of the sales team closes the sale. What type of commission would be most appropriate for Juan?
Which type of plan spreads the risk of selling between the company and its sales professionals?
develop job descriptions; organize jobs into job families
Skill blocks are sets of skills (knowledge) necessary to perform a job. Before grouping skills into blocks, a company needs to ________ and ________.
What input should customers provide in the skills assessment process?
Skills assessment is a consideration when going from job-based pay to person-focused pay. Which of the following questions is NOT relevant to skills assessment?
Making the organizations flatter
What major trend are companies following by using the broadbanding concept to consolidate existing pay grades and ranges into fewer pay grades and wider ranges?
the company has difficulty recruiting and retaining new hires who are brought in at a lower pay scale
A major limitation of the two-tiered pay system is that ________.
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