All of the Following Are Characteristics of Hourly Wage Plans

question 24

Multiple Choice

All of the following are characteristics of hourly wage plans except:

• A)They provide no extra recognition for doing more than the minimum required.
• B)They are easy to apply.
• C)They establish a definite rate per hour for each employee.
• D)They encourage employees to sacrifice quality in order to maximize earnings.

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Definitions:

Competency-Based Pay

A compensation system that bases an employee's pay on the skills, abilities, and knowledge they bring to the job, rather than their job title or position.

Management Styles

The various approaches and methods used by managers to motivate staff, direct activities, and achieve organizational objectives.

Compensation Mix

The combination of different types of compensation, such as base salary, bonuses, stock options, and benefits, that an organization offers its employees.

Indirect Pay

Compensation that includes benefits provided by the employer but are not directly paid out as cash, such as health insurance and retirement plans.