In Setting Their Pay Structures, Companies Use a Procedure Known

question 91

True/False

In setting their pay structures, companies use a procedure known as performance assessment, which determines the worth of each job by determining the market value of the knowledge, skills, and requirements needed to perform it.

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Definitions:

Rational Persuasion Strategy

Pursues change through empirical data and rational argument.

Legitimate Power

Legitimate power is the capacity to influence other people by virtue of formal authority, or the rights of office.

Cost-Benefit Value

The evaluation of the advantages (benefits) and disadvantages (costs) associated with a particular action or decision.

Managing Planned Change

Managing planned change involves the systematic process of implementing new methods, practices, or directions within an organization to improve efficiency or adapt to new market conditions.