How do employees judge the fairness of their pay?
What will be an ideal response?
Employees judge the fairness of their pay through comparisons with the compensation paid to others for work related in some fashion to their own. Accordingly, an important factor influencing the internal pay structure is its acceptability to the employees involved. Employees make multiple pay comparisons to assess the fairness of an internal pay structure. They compare both with other jobs in the same internal structure and with the pay for their job in the external market (i.e., at competing employers).
Two sources of fairness are important: the procedures for determining the pay structure, called procedural justice; and the results of those procedures-the pay structure itself-called distributive justice.
Procedural justice refers to the process by which a decision is reached. Distributive justice refers to the fairness of the decision.
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What will be an ideal response?
All of the following are conditions that could affect the valuation of investments on the balance sheet except
A) changes in the general purchasing power of the dollar. B) changes in the operations of investee companies. C) changes in the market value or fair value of the investments. D) changes caused by the passage of time.
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Indicate whether the statement is true or false