Exam 12: Establishing a Pay Structure

Although labor and product markets limit organizations' choices about pay levels,there is a range within which organizations can make decisions.The size of this range depends on the:

Research on the effects of two-tier wage plans found that:

SalientVision Inc.,a construction company,receives more than $2,000 in federal money.The company pays its employees at rates at least equal to the prevailing wages in the area.The calculation of prevailing rates by the company is based on 30% of the local labor force.In this case,which of the following laws does the company comply with?

Organizations under pressure to cut labor costs may respond by:

The job characteristics that an organization deems valuable and decides to pay for are termed as compensable factors.

Which of the following statements is true about a product market?

Das Work and Edge Tech are electronics manufacturing companies competing to serve the same customers.The labor-related expenses per product for Das Work is $30 higher than that for Edge Tech.However,Das Work makes more profits than Edge Tech.In this case,which of the following actions has contributed to the profits made by Das Work?

The laws governing Equal Employment Opportunity guarantee equal pay for all employees of an organization.

Instruck Inc.is a real estate firm based in Colorado.The company ensures that employees' pay is dependent on what they are capable of doing.The company also supports efforts to empower its employees by encouraging them to be independent and making decisions in various areas.This,in turn,ensures job enrichment.Based on this information,identify the pay structure being exemplified in this scenario.

A compa-ratio is 1 if actual pay is not consistent with the pay structure of an organization.

The equity of executive pay has a limited effect on other employees.

According to equity theory,employees evaluate job outcomes such as compensation in terms of outputs.

Which of the following best defines an organization's job structure?

Define hourly wage,piecework rate,and salary.

Which of the following statements is true about key jobs?