After a 3-Year Probationary Period, Career Positions at Fairview Community

question 347

True/False

After a 3-year probationary period, career positions at Fairview Community College are fairly secure, even though the opportunity for promotion runs pretty slowly. These jobs would probably appeal to people who currently work for Type A companies, similar to the way many companies operate in Silicon Valley.

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Definitions:

Internal Equity

The practice of ensuring that employees are compensated fairly in relation to one another within the same organization.

External Equity

The fairness of an employee's compensation as compared to what others in the external job market are receiving for similar work.

Job-Based Pay

A compensation strategy that determines an employee's salary based primarily on the specific job or position they hold.

Competency-Based Pay

Pay based on an employee’s skill level, variety of skills possessed, or increased job knowledge