Establishing Strategic Pay Plans

What are the two main components of employee compensation as described in Chapter 11?

According to the equity theory of motivation, what is procedural equity?

What did the Fair Labor Standards Act (FLSA) of 1938 primarily establish?

What is the key difference between a job evaluation and a market-based approach to setting pay rates?

What is the primary purpose of using benchmark jobs in the job evaluation process?

In the point method of job evaluation, what is the first step after choosing benchmark jobs?

What is the primary purpose of a wage curve?

What does a 'red circle' or 'flagged' rate signify in a compensation plan?

What is the primary difference between competency-based pay and traditional job evaluation-based pay?

What is the primary aim of broadbanding?

What does the concept of 'comparable worth' primarily address?

What was the minimum weekly salary for an employee to be considered exempt from overtime pay, according to the threshold mentioned in Chapter 11?

Which of the following is NOT one of the three main factors that one study concluded determines executive compensation?

What does a 'total rewards' strategy encompass that goes beyond traditional compensation and benefits?

What is a key provision of the Employee Retirement Income Security Act (ERISA)?

According to the case study on Wegmans Food Markets, what was the annual employee turnover for part-timers?

How many steps does the chapter outline for the process of creating a market-competitive pay plan?

In the example of an office supervisor's pay, what was the average base pay in Florida compared to New York?

What is the primary characteristic of job classification or job grading methods of evaluation?

According to the pay gap statistics mentioned in the 'Diversity Counts' section, women in the United States earn approximately what percentage of what men earn?

What is the primary function of a salary survey in the context of creating a pay plan?

What is a compa ratio?

What is a major advantage of the ranking method of job evaluation?

How much more did new female medical doctors earn per year compared to their male counterparts, according to a study cited in the chapter?

What does the Dodd-Frank Law of 2010 require American companies to do regarding executive pay?