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MGHB12 Final Exam Questions and Correct Answers | Latest Update | A+
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Components of compensation Ans: - direct compensation - indirect compensation - non-financial compensation Establishing base pay rates Ans: - internal equity - external equity - compensable factors Establishing internal equity Ans: - determine the worth of each job through job evaluation (point system) - group similar jobs into pay grades Establishing external equity Ans: - conduct a wage survey - labour market conditions - area wage rates - CPI - unionization - wage curves Typical compensable factors Ans: - skill - effort - responsibility - working conditions Job evaluatio
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