compensation LC ch 17, 7, 8
______ sets a maximum pay level an employer can pay
the product market
companies typically use _____ pay survey(s) when setting pay levels
three to five
Although relatively few people are paid minimum wage, raising the minimum wage affects pay structures
true
smaller pay ranges may reduce the opportunities for promotion
true
pay ranges for clerical and production jobs commonly range between __ and __
30,60
employers were more likely to offer bonuses, gain-sharing and stock options after the passage of
Worker Economic Opportunity Act
if you were seeking a job, which of the following is most likely to offer the highest pay
a large (over 500 employees) petroleum company
all of the following except ______ is an important factor in defining a market for compensation purposes
ability to pay
which of the following is NOT one of the steps in establishing a comparable worth pay plan
base the wage-to-job evaluation point ratio on wages paid for female dominated jobs
which of the following occupational groups is most likely to be categorized as exempt
computer programmer
which of the following are not advantages or characteristics of broad bands
controls are designed into the system
regarding pay differences for different jobs
courts continue to uphold use of market data to justify differences
factors such as shift differential, temporary assignment and training programs are examples of
factors other than sex
a common practice is to use the 10th and 90th percentiles from pay survey data to set minimums and maximums of pay grades
false
a high degree of overlap between adjacent pay ranges means pay raises can be larger compared to low overlap
false
a market pay line is useful for setting pay for benchmark jobs that match competitors, but not for non-benchmark jobs
false
most organizations pay about the same for the same job requiring similar education and experience
false
if company A raises its pay rate one dollar per hour to hire additional workers and competitors immediately match the increase, what is the most likely result
higher labor costs for company A, but no more workers
_______ theory is most influential in explaining pay-level differences
human capital
the pay policy associated with the increased productivity is
hybrid
research on efficiency wage theory shows
more unqualified workers apply
the study referred to in the text on how managers make wage adjustment decisions found
profitability affected the overall pay budget
All of the following except _______ are provisions of the 1938 Fair Labor Standards Act
prohibition of hazardous work
the Davis-Bacon Act
requires that mechanics and laborers on public construction projects be paid the "prevailing wage" in an area
the key factors explaining the gender pay gap are differences in
work/occupation and work-related behaviors
in the regression equation, y=a+bx, job evaluation points are
x
the concept of a comparable worth has been implemented in most states and municipal governments
false
a company using a skill-based pay system prices the job of lead assembler at between $10 and $22. survey data showed the job assembler averages $10 per hour and the job of assembly supervisor at $22 per hour. the company was using the _______ method of job matching.
low-high
an organization that has a match (pay) policy will pay its employees
more than the market rate for some months and less than the market rate for the other months
in which of the following pay-mixes are bonuses and options the smallest
security or commitment