What Is a Business Indicator for the Success of the Compensation

question 73

Multiple Choice

What is a business indicator for the success of the compensation system designed by the HR department of an organization?

• A) competitiveness in the local labor market
• B) the ratio of average salary offers to the average salary in the community
• C) the relationship between pay and performance
• D) employee satisfaction with pay
• E) the fairness of an existing job evaluation system in assigning grades and salaries

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Definitions:

B₂C Buying

The purchasing process in which businesses sell products or services directly to consumers, typically through retail or online channels.

B₂B Purchasing Process

The sequence of steps a business goes through to purchase goods or services from another business, often involving complex decision-making and multiple stakeholders.

Consumer Decision-Making Process

The stages a consumer goes through before purchasing a product, including problem recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior.

Derived Demand

A situation where the demand for one product or service occurs as a result of the demand for another product or service.