with verified answers
Absolute level Ans✓✓✓ The reward can be defined.
Anchored Rating Scale Ans✓✓✓ Use examples and/or definitions for each point
value on the scale.
Benchmark competitors Ans✓✓✓ A selection of primary organizations that
exemplify the labor and product/service markets in which the organization
competes.
Benchmark Competitors Ans✓✓✓ A selection of primary organizations that
exemplify the labor and product/service markets in which the organization
competes.
Benchmark jobs Ans✓✓✓ Jobs that are representative of the type, content and
level of jobs in the organization.
Benchmark Jobs Ans✓✓✓ Sample of jobs that is representative of the type,
content and level of jobs in the organization.
Broadbanding Ans✓✓✓ Entails the use of a few broad bands (or grades) to
organize work for pay purposes.
Business Strategy Ans✓✓✓ The collection of decision, approaches, and activities
that allow an organization to complete and win.
, Capability-based pay Ans✓✓✓ When a reward system explicitly attempts to
attempts to vary rewards based upon capabilities of the employees. (Skill,
competency, and seniority based pay)
Central Tendency Ans✓✓✓ Describes what's typical for a set of data, usually
measured by the arithmetic mean, median, or mode.
Centralized approach Ans✓✓✓ Human Resources makes all the decisions
Collaborative Environment Ans✓✓✓ Teams of employees work in concert to be
creative, solve problems, and produce result.
Compa-ration Ans✓✓✓ A ratio frequently used to measure the conformity of pay
rates to the pay plan.
Compensable factors Ans✓✓✓ Job elements or criteria that identify what the
organization values for purposes of job evaluation. Step one in the Point Factor
Approach.
Cost Leadership Strategy Ans✓✓✓ Focusing business priories on providing a
lower-cost product or service.
Critical Success Factors Ans✓✓✓ Capabilities, activities, customer perceptions
and market positions that allow an organization to out-compete its rivals.
Custom Questionnaires Ans✓✓✓ A series of questions that job incumbents
complete on their own.