What are two examples of job-based pay?

• A.Point factor pay and broadband pay
• B.Step rate pay and merit-based pay
• C.Market pricing pay and pay for performance
• D.Skill-based pay and competency-based pay

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What are the benefits of a well-articulated compensation philosophy?

• A.Improved employee morale and retention
• B.Reduction in employee absenteeism
• C.Enhanced organizational culture
• D.Increased market competitiveness

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Why is it important to review current compensation for incumbent salary data when determining new hire rates?

• A.To align with market trends and benchmarks
• B.To address potential pay compression issues
• C.To ensure internal equity and consistency
• D.To identify opportunities for cost savings

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What are internal and external causes for reclassification?

• A.Internal: Job redesign; External: Merger or acquisition
• B.Internal: Job promotion; External: New industry regulations
• C.Internal: Performance improvement; External: Change in market demand
• D.Internal: Salary structure adjustment; External: Employee resignation

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What are considerations around single rate pay?

• A.Internal pay equity and market competitiveness
• B.Budget constraints and financial sustainability
• C.Employee motivation and engagement
• D.Skill development and career progression

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