Human Resource Planning (Scenario)

question 41

Multiple Choice

Human Resource Planning (Scenario)
Steven is hired to manage the human resources department of a local manufacturing company. Unfortunately, the company has a reputation among workers of being the firm "where you work until you find your next job." Employee turnover is high and morale is low. Steven is determined to change the situation by turning the organization's human resources into a competitive advantage and a source of pride for the firm.
-To improve the company's compensation system,Steven recommends a ________ pay system that rewards employees for competencies they can demonstrate,rather than basing pay on job titles.

• A)knowledge-based
• B)merit-based
• C)function-based
• D)skills-based

---

Definitions:

Imperfectly Competitive Seller

A seller in a market where the conditions do not meet the criteria of perfect competition, often having some control over the price of their product.

Resource Demand Curve

A graphical representation that shows the relationship between the price of a resource and the quantity of that resource that is demanded.

Wage Rate

The amount of money paid to an employee per unit of time, such as an hour or a week.

Hiring Workers

The process of employing individuals to perform tasks or services for a business or organization in exchange for compensation.