BAC 322 Test #3 Ch. 7 - 9, 11 (2024)

Pay grades exist when two or more rates are paid to employees in the same job

The additional output associated with the employment of 1 additional person with other factors held constant

To pay in consistency with competitors is to lag the market

Theory on the demand side of labor that suggests above market pay will improve efficiency of attracting quality workers

This theory is effective when employees can compare their pay to employees and feel it is fair

Theory on the supply side of labor that suggests job seekers won't accept a job offer below a certain wage

When performance based pay is closely related to performance and occurs shortly after the behaviors is the _____ theory

The approach used if the purpose of a survey is to price the entire structure

To rank employees from best to worst

When considering the ppl rating employees, you should consider that raters have different definitions of rating scales

The theory on the demand side of labor that explains the presence of various pay rates in the market.

To group jobs that are similar together for pay purposes

The approach used (often in a person-based structure) to determine pay between the low & high range

To pay above the market is to ____ the market

Monetary rewards should be emphasized when performance measures are

A significant incentive component should be used when corporate performance variability is

Most graduating students are in this market

The rating format when managers answer open-ended questions

To rank employees with the best employee first, then the worst, then the second best, second to worst....

Performance management, culture, and compensation are part of the _____ triangle

Base pay with low-incentives should be emphasized when corporate performance variability is

The ability to haggle/negotiation the price

Rater training can reduce bias and improve accuracy of the ratings given

Control cost, increase revenue and attract and retain employees are the focus of pay level/pay mix

The ability triangle includes all of the following EXCEPT

Which is NOT a category managers can be grouped into for performance reviews

This can be found by adding each individual base pay and dividing by the number of people

Pay relationships among organizations

A wide array of awards beyond money is good when performance measures are

This represents an organization's pay-level policy in relation to what competitors pay for similar jobs