Compensation system on market pricing

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If an organization wants to base its compensation system primarily on market pricing, which of the following tools or techniques would be the most relevant?

-A point manual
-The ranking method
-The classification method
-A pay survey

When conducting market pricing, job evaluators rely on pay surveys-a collection of the pay levels workers receive for doing the same job in many different companies. Where could you go if you needed a pay survey? Check all that apply.

-ERISA
-The Bureau of Labor Statistics
-Glassdoor.com
-Professional trade associations

When are companies most likely to find lump sum increases useful?

-When employees are at the bottom of their pay ranges
-When they are trying to improve employee satisfaction
-When employees are at the top of their pay ranges
-When the cost of living has increased

Reference no: EM133026454

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