To Determine a Fair Rate of Employee Compensation, Most Firms

question 15

Multiple Choice

To determine a fair rate of employee compensation, most firms rely upon which of the following tools to establish external equity?

• A) job grading
• B) wage and salary surveys
• C) point system
• D) job ranking
• E) job analysis

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Definitions:

Alternative Evaluation

The stage in the consumer decision-making process where individuals compare different products or brands they have identified as being capable of satisfying their need.

Postpurchase Behavior

The actions and reactions of consumers after purchasing a product or service, including satisfaction, regret, or loyalty.

Repeated Experience

A scenario in which an individual encounters the same event, activity, or situation multiple times, leading to familiarity or skill improvement.

Psychosocial Edification

The process of educating or improving an individual's psychological and social skills and knowledge for better interpersonal interactions and personal development.