Exam 8: Building Pay Structures That Recognize Individual Contributions

Jasmine Black believes that the company should share part of the risk for her sales position.Which sales compensation plan should she pursue?

This type of pay rate applies to an employee who is demoted but is paid more than the maximum rate for the pay grade he is now in.

Midpoint,minimum,and maximum are values used to define which of the following?

________,or lump sum bonuses,lend themselves well to cost containment since these bonuses are not permanent percentage increases.

What are the differences between pay grades and pay ranges?

This federal act requires contractors with federal contracts worth over $2,000 to pay wages at least equal to those prevailing in the area where the work is being done.

Which of the following theories suggests that an employee must regard his own ratio of merit increase pay to performance as similar to the ratio for other comparably performing people in the company?

A ________ is the difference between the maximum and minimum pay rates of a given pay grade.

With which sales compensation plan does the level of pay not vary when sales volume does vary?

How are compa-ratios calculated?

What is pay compression and how can companies minimize the occurrence of it?

Wherever proprietary information is the subject of training,a company most often relies on which of the following sources of expertise?

When ________ spreads are used to develop pay grade widths,the grades are based on a set number of job evaluation points for each grade that increases as an employee moves up the pay structure.

What are the three considerations used in determining fixed pay and the compensation mix in sales compensation plans?

For the purpose of applying pay policies,this term refers to the groupings of jobs based on compensable factors.

________ assign different pay rates for jobs of unequal worth and provide the basic framework for recognizing differences in individual contributions.

A 10 percent merit pay increase budget tells us which of the following?

Which scenario would be appropriate for using a salary-only plan?

________ describe the allocation of monetary resources to fund pay structures.

This term describes a set of skills necessary to perform a specific job or a group of similar jobs.