To Set Pay Standards, HRM Employs ________

question 91

Multiple Choice

To set pay standards, HRM employs ________.

• A) outside consultants
• B) a federal pay scale
• C) a panel of an employee's peers
• D) a performance management system

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Definitions:

Lean Business Model

A strategy focused on creating value for customers with minimal waste and resources, emphasizing flexibility and efficiency.

Multi-Dimensional Performance

An approach to evaluation that considers various aspects of performance, such as efficiency, effectiveness, and quality, across different domains or dimensions.

Just In Time

An inventory management strategy where materials and goods are produced or acquired only as needed for immediate use.

Lean Business Model

A strategy focusing on creating more value for customers with fewer resources by minimizing waste and optimizing processes.