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MIE 330 FINAL EXAM 2024 WITH 100% CORRECT ANSWERS

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MIE 330 FINAL EXAM 2024 WITH 100% CORRECT ANSWERS What are the three characteristics of an employer's side on pay? - correct answer 1. Powerful tool for meeting org goals 2. Impacts employees attitudes and behaviors 3. Influences the kinds of people attracted to/remain with the org What are the two characteristics of an employee's side on pay? - correct answer 1. Care about fairness 2. Attach great importance on pay decisions when evaluating relationships with employers Pay is a large (primarily fixed) _____ to orgs, so it must be what? - correct answer Cost; managed What two aspects are important to create a pay structure? - correct answer 1. Job structure 2. Pay level What are the four types of issues developing in a pay structure? - correct answer 1. Legal requirements 2. Market forces 3. Org goals 4. Pay level, job structure, and pay structure decisions What are four legal requirement issues? - correct answer 1. Equal pay for equal work 2. Minimum wage 3. Overtime pay 4. Restrictions on child labor

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