Companies that implement a market lead pay policy usually attract more highly qualified applicants than lower paying firms in the same labor market.
Indicate whether this statement is true or false.
Question 2Compensation policy choices pertain to pay level and compliance with legislation.
Indicate whether this statement is true or false.
Question 3When determining pay mix, it generally does not make sense to consider guidelines for jobs within a particular structure (for example, managerial, administrative, or sales).
Indicate whether this statement is true or false.
Question 4Firms which pay below the average labor market price for jobs will most likely have ________.
A) higher productivity levels
B) higher turnover rates
C) lower unit labor costs
D) fewer grievances
Question 5Benson Enterprises pays lower salaries than its competitors in order to control labor costs, especially when the firm's financial condition is weak. Which type of compensation policy is most likely in place at Benson Enterprises?
A) conservative pay policy
B) market lag policy
C) economical pay policy
D) individual rate
Question 6In a brief essay, describe job evaluation and job pricing.
What will be an ideal response?
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