Examlex
Which of the following statements is CORRECT?
Compa-Ratio
A metric used in human resource management to compare the salary of an individual to the midpoint of a salary range for their position or job classification.
Pay Grade
A step or level within an organization's pay structure that determines the range of pay rates for employees based on the complexity, responsibility, and skills needed for their jobs.
Midpoint
In human resources, it often refers to the middle value in a salary range for a particular position, serving as a benchmark for compensation levels.
Compensation Management
The systematic approach to managing and determining employees' wages, salaries, benefits, and incentives.
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