Strategic Compensation Final || All Questions Answered Correctly.
Output-Based Pay correct answers Compensation based on amount of output an employee produces When can you use output-based pay correct answers It is only possible to use output related pay when output: - Is easily measured. - Is easily priced in terms of value to the employer. - Can be attributed to individuals. - Is within the control of the employees. - is stable. When not to use output-based pay correct answers Sometimes even if it is possible, output-based pay is undesirable due to the consequences. - may result in a reduced concern for safety in favour of high production. - may cause salespeople to be too aggressively or act unethical. - employees and especially unions often don't like it due to the uncertainty. Compensation Mix correct answers The compensation mix includes: - Base Pay. - Performance Pay. - Indirect Pay. Base pay correct answers An individuals salary or wage. May be based on: - job evaluations, - market pricing, - and by paying for knowledge. Performance pay correct answers Employees pay based on their performance within the organization or the organizations performance overall. May be based on:
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