Case 17.1 ​

question 57

Multiple Choice

Case 17.1
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William is a 38-year-old computer systems executive.He has come to a point in his life where he is reassessing his ambitions and personal life.He attends professional development conferences regularly and is working on an MBA.Although he eats a low-fat diet and exercises regularly,he works 70-80 hours a week,seldom sees his children except after they are in bed,does not visit his place of worship except on religious holidays,and feels as though his wife is a stranger.William believes that if he can earn just 20 percent more,he can relax because his family will be financially secure.
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-Refer to Case 17.1.In order to attain a "right livelihood," William needs to​

• A) ​accept the myth of scarcity.
• B) place money in a secondary position.​
• C) spend what he earns.​
• D) avoid discussing financial matters with his family.​

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Definitions:

Internal Equity

In compensation refers to comparisons made by employees to other employees within the same organization.

Classification System

The classification system for job evaluation attempts to group sets of jobs together into clusters, which are often called grades.

Job Evaluation

The process of analyzing and assessing various jobs systematically to ascertain their relative worth in an organization.

Pay Compression

A situation where there is little difference in pay between employees regardless of their skills, experience, or job responsibilities.