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chapter 5 MGMT 2103 UARK Questions with Accurate Answers
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chapter 5 MGMT 2103 UARK
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chapter 5 MGMT 2103 UARKPay structure - answerThe relative pay of different jobs (job structure) and how much
they are paid (pay level)
Pay level - answerThe average pay, including wages, salaries, and bonuses, of jobs in
an organization.
Job structure - answerThe relative pay of jobs in an organization.
Efficiency wage theory - answerA theory stating that wage influences worker
productivity.
Benchmarking - answerTechnique used to compare one organization's practices with
another, usually successful organization's practices.
Rate ranges - answerDifferent employees in the same job may have different pay rates.
Key jobs - answerBenchmark jobs, used in pay surveys, that have relatively stable
content and are common to many organizations.
Nonkey jobs - answerJobs that are unique to organizations and that cannot be directly
valued or compared through the use of market surveys.
Job evaluation - answerAn administrative procedure used to measure internal job worth.
Compensable factors - answerThe characteristics of jobs that an organization values
and chooses to pay for.
Pay policy line - answerA mathematical expression that describes the relationship
between a job's pay and its job evaluation points.
Pay grades - answerJobs of similar worth or content grouped together for pay
administration purposes.
Range spread - answerThe distance between the minimum and maximum amounts in a
pay grade.
Compa-ratio - answerAn index of the correspondence between actual and intended pay.
Delayering - answerReducing the number of job levels within an organization.
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