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Strayer BUS 409 Compensation Management Quiz 6 Chapter 8 Answers

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Strayer BUS 409 Compensation Management Quiz 6 Chapter 8 Answers

How are compa-ratios calculated?
Which term is used to describe the situation where the pay spread between newly hired employees and more qualified job incumbents is small?

If the company adopts a market lead policy, how will that company's pay range midpoint compare to the market average?

What represents the relationship between a company's valuation of jobs based on job evaluation and the valuation of jobs within the external market, as assessed by compensation surveys?

Alejandro Martinez is responsible for setting up the pay structure for his company. He believes that newly hired employees should not be paid as much as established employees. Accordingly, what type of pay structure should Mr. Martinez use?

This theory 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.

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

This type of commission draw acts as a salary because employees are not obligated to repay the loans if they do not sell enough to cover the amount.

This type of sales incentive compensation plan offers the sales person a salary and further compensation if they meet a specific, exceptional sales goal.

A recently opened car dealer uses an incentive compensation plan for its sales people. The dealer provides money to its salespeople to cover basic living expenses and then shares a fixed percentage of the selling price of each car that a salesperson sells. However, the salesperson should repay the subsistence pay component within a year; otherwise he/she cannot continue in the employment of this dealer. What type of sales compensation plan does this dealer adopt?

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.

If the company adopts a market lag policy, how will that company's pay range midpoint compare to the market average?

In establishing pay grades, which pay rate is established first?

This is a loan from the company to the employee that is carried forward indefinitely until the employee sells enough to repay it.

Richard's job has a compa-ratio of 0.85. What does this ratio tell about Richard's pay rate?

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