For Organizations Using a Skill-Competency-Based Pay System or Generic Job

question 48

Multiple Choice

For organizations using a skill-competency-based pay system or generic job descriptions, the best approach for pricing jobs is _____.

• A)benchmark-job approach
• B)low-high approach
• C)survey leveling
• D)benchmark conversion

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Definitions:

Mission

A statement of the organization’s function in society that often identifies its customers, markets, products, and technologies. Often used interchangeably with vision.

Core Values

Fundamental beliefs and guiding principles that dictate behavior and action within an organization.

Customer Value Proposition

The cluster of benefits that an organization promises customers to satisfy their needs.

Economic Losses

Financial losses incurred by individuals, businesses, or the economy due to factors such as accidents, natural disasters, or market downturns.