The Managers of Small Organizations and Non-Profits Are Wrapped Up

question 62

True/False

The managers of small organizations and non-profits are wrapped up in entrepreneurial activities that typically focus on sales strategies and market growth,day-to-day cash flow problems,and routine fire fighting.

Identify the conditions under which employers can deviate from standard minimum wage requirements.

Understand the significance of job titles and descriptions in the application of labor laws.

Recognize the legal allowances for employers to adjust pay based on seniority, merit, or to retain employees.

Understand the basic provisions and requirements of the Employee Retirement Income Security Act (ERISA).

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Definitions:

Wage Compression

A situation where differences in wages between employees become small, often because of external pressures, leading to reduced pay gaps between new and experienced employees, or between different job roles.

Annual Basis

Refers to calculations, measurements, or assessments made over the course of a year.

Increased Turnover

A higher rate at which employees leave a company and are replaced, which can indicate dissatisfaction or a dynamic job market.

Compa-ratio

A comparative ratio used in compensation management to determine an employee's pay relative to the midpoint of the market or their pay grade.