When Compensating Professional Employees, Most Employers Use a

question 67

Multiple Choice

When compensating professional employees, most employers use a

• A)job evaluation approach.
• B)skill-based pay approach.
• C)market-pricing approach.
• D)job-based pay approach.
• E)pay equity approach.

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Definitions:

Head

A term often used to refer to a person in a leading or managerial position within an organization.

Vivid Vision

A detailed and clear description of a future state or goal that one aims to achieve, often used for motivation and strategic planning.

Business Model Canvas

A visual chart with elements describing a firm's value proposition, infrastructure, customers, and finances, facilitating an understanding of a business model.

Entrepreneur

An individual who creates and manages a business venture with the aim of profit-making while taking on financial risk.