George is a long-term exceptional performer. He has a compa-ratio of 120 and once again his performance has exceeded expectations. But, George only gets a raise of 3%, which is less than some of his co-workers who have less seniority and whose performance only meets expectations. George is incensed and waiting in your office. As director of HR, how will you explain this situation to George?
a.You should discipline George and his co-workers because employees should not discuss their pay.
b.You explain that George’s compa-ratio shows that he is at the top of his pay range and that he is already earning above the market midpoint set in his pay grade.
c.You should describe the reality of pay compression to George and that market rates determine what the organization can pay for a particular job no matter how well carried out.
d.You decide to give George a lump-sum increase equivalent to a 10% raise. This will recognize George’s exceptional performance without affecting his base pay.
102.The goal in giving pay increases to average performers should be
a.to keep their pay competitive with the labor market..
b.on motivating them to perform better.
c.on encouraging them to leave the organization.
d.on achieving a compa-ratio of 100.
103.Which of the following employees will be qualified for the LARGEST pay raise according to a typical pay adjustment matrix? An employee with
a.a compa-ratio of 85 who meets performance expectations.
b.a compa-ratio of 85 who exceeds performance expectations.
c.a compa-ratio of 115 who meets performance expectations.
d.a compa-ratio of 115who exceeds performance expectations.
104.An individual’s ____ is that employee's current pay level divided by the midpoint of the pay range.
105.Which of the following is an advantage of a lump-sum increase (LSI) plan compared with traditional raises?
a.LSI plans eliminate the need for annual adjustments of the pay matrix.
b.Employees are more satisfied with LSIs.
c.It heightens employees' awareness of what reward their performance merited.
d.It increases the compounding effect of succeeding raises on the employee’s base pay.
106.A true cost-of-living raise
a.must be based on the cost of living in the local area where the organization is based.
b.must be tied to economic indicators such as the CPI.
c.is the same thing as an automatic increase.
d.is the same thing as a merit raise.
107.As a young employee who consistently meets (but does not exceed) performance expectations, which type of pay increase system would most likely be to your personal financial benefit considering that you expect to stay with the company another 10 years?
b.lump sum increases
d.second quartile approach
108.Cost-of-living adjustments are typically tied to changes in the
a.consumer interest rate.
b.prime interest rate.
c.Dow Jones Industrial Average.
d.Consumer Price Index.
109.Wimsey Enterprises has announced that it will give all employees a 5% merit increase this year. This increase should really be termed a/an
d.market rate alignment.
110.Of the following, which type of pay adjustment has the most ability to reward employee performance?
a food product is being frozen in a system capable of removing 6000kj of thermal energy the product has a specific heat of 4 kj/kg c above the freezing temperature of -2c...Jul 17 2020
What event heralded the onset of behavioral theories of leadership in the United States?Question 2. Question : Martin is well liked by his peers and influences them u...Mar 17 2020
Determine whether the following would be fixtures or personal property.Refrigerators in a restaurant kitchenAug 16 2021
Implement the clone( ) method for the CircularlyLinkedList class.2. Implement the clone( ) method for the DoublyLinkedList class.3. Write a Java program for a matrix cla...Jun 13 2020
Describe a product you purchased recently - compare that with purchases of a group in a different generational cohort. What product features are attractive to you? What a...Jun 01 2020
Identifying Transitory Items (Easy) Classify each of the following items as either part of core income or unusual (transitory) income.a. Depreciation expenseb. Unrealized...May 25 2020
Choose the correct answer.Information technology firms and construction-related companies are growing at (aaban unusually fast pace.Jul 02 2021
What storage device can be used to create an index sequential file? (a)ISAM (b)Direct Access (c)Sequential access (d)Tape (e)Hashed.Dec 29 2017
Which of the following economic goals focuses on funding technological advances in production? A. Efficiency B. Equity C. Freedom D. SecurityJun 01 2021
The Yankee Candle Company, in Hatfield, Massachusetts, makes scented candles. When strawberry-scented candles are made, townspeople enjoy th...Dec 12 2019