A) It consists of the relative pay for different jobs within the organization.
B) It is the average amount an organization pays for a particular job.
C) It comprises the characteristics of jobs that the organization values and chooses to pay.
D) It comprises regular pay, overtime pay, and bonuses.
E) It refers to the standard amount that employers must pay under federal and state law.
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A) minimum and maximum wages fixed by the government.
B) pay of federal contractors.
C) organization's competitive environment.
D) quality of employees.
E) organization's global reputation.
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A) It produces high quality goods and charges more for these products than competitors.
B) It does not provide overtime pay to employees who work more than 40 hours in one week.
C) It has recently introduced the comparable-worth policy for employees.
D) It provides free home delivery of purchased goods.
E) It has a company website where customers can purchase goods online.
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A) retaining staff levels.
B) providing pay increases to prevent employee turnover.
C) postponing hiring decisions.
D) requiring employees to bear less of the cost of benefits such as insurance premiums.
E) avoiding automation of routine tasks.
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An organization's pay structure should r...View Answer
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A) The cost of labor does not affect the product market because it is an insignificant part of an organization's costs.
B) Product-market considerations are of particular concern to a company when its customers place greater importance on product rather than price.
C) Organizations in a product market are competing to serve the same customers.
D) Product markets typically place a lower limit on the pay an organization will offer its employees.
E) Organizations in a product market must increase the cost of labor every quarter.
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A) lower-paid employees were less satisfied on average than higher-paid employees.
B) lower-paid employees were more satisfied on average than higher-paid employees because they made comparisons with lower-paying alternatives for themselves.
C) lower-paid employees expected to be promoted into the second tier in a short time span.
D) equity theory did not come into play for either group and neither group experienced more or less job satisfaction than the other.
E) both existing employees and new employees have a similar pay rate.
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A) The Lloyd-La Follette Act of 1912
B) The Smith-Connally Act of 1943
C) The Julie Jargon Act of 1940 and the Eric Morath Act of 1945
D) The Davis-Bacon Act of 1931 and the Walsh-Healy Public Contracts Act of 1936
E) The Humphrey-Hawkins Full Employment Act
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A) Organizations usually have no survey data available for key jobs.
B) These are jobs that have highly unstable content.
C) These are jobs that are unique among organizations and are rare to obtain.
D) Organizations make the process of creating a pay structure more impractical by defining key jobs.
E) A job with a higher evaluation score than a particular key job would receive higher pay than that key job.
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A) Straight piecework plan
B) Skill-based pay systems
C) Merit pay system
D) Differential piece rates
E) Standard hour plan
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