Skill-Based Pay Plans

question 73

Multiple Choice

Skill-based pay plans:

• A)discourage employees from learning new jobs.
• B)create a psychological distance between employees and managers.
• C)discourage poor performers from leaving the organization.
• D)can be expensive because they motivate employees to spend more time learning new jobs.
• E)All of the answers are correct.

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Definitions:

Sample Average

The sum of all values in a sample divided by the number of values, providing a central tendency measure of the sample.

Population Average

The mean value calculated for a specific characteristic within a given population.

Illusion of Control

The illusion of control is a cognitive bias where individuals overestimate their ability to influence events and outcomes that are largely beyond their control.

Normal Curve

A symmetrical, bell-shaped curve that represents the distribution of many types of data where most occurrences take place around the average value.