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Compensation in Organizations

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Questions and Answers

What is the primary goal of conducting job evaluation in an organization?

To determine the pay range for each job
To analyze the job descriptions and specifications
To evaluate the performance of employees
To identify the relative worth of jobs within the organization (correct)

What is the purpose of conducting pay surveys in an organization?

To evaluate the performance of employees
To gather data on compensation rates for similar jobs in other organizations (correct)
To determine the relative worth of jobs within the organization
To analyze the job descriptions and specifications

What is the outcome of conducting job evaluation and pay surveys in an organization?

Development of job descriptions
Evaluation of employee performance
Analysis of job specifications
Design of pay structures (correct)

What are the features considered in a job evaluation?

Relative importance of the job, knowledge, skills, and abilities, and difficulty of the job (C) Signup and view all the answers

Why is it necessary to place individual jobs in the appropriate pay grades?

To ensure internal equity and external competitiveness (B) Signup and view all the answers

What is a pay structure?

A range of pay grades and minimum-to-maximum pay ranges (B) Signup and view all the answers

What is the purpose of monitoring and updating the pay system?

To ensure internal equity and external competitiveness (D) Signup and view all the answers

What is the outcome of conducting pay structures and placing individual jobs in the appropriate pay grades?

Adjusting employees’ pay based on length of service and performance (B) Signup and view all the answers

Why is it important to use pay surveys in building a pay system?

To gather data on compensation rates for similar jobs in other organizations (C) Signup and view all the answers

What is the relationship between job evaluation and job analysis?

Job evaluation follows job analysis (A) Signup and view all the answers

What is the purpose of designing pay structures in an organization?

To ensure internal equity and external competitiveness (B) Signup and view all the answers

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