Explain the low-high approach in selecting jobs for inclusion in a compensation survey.
What will be an ideal response?
If an organization is using skill-competency-based structures or generic job descriptions, it may not have benchmark jobs to match with jobs at competitors who use a traditional job-based approach. Market data must be converted to fit the skill or competency structure. The simplest way to do this is to identify the lowest- and highest-paid benchmark jobs for the relevant skills in the relevant market and to use the wages for these jobs as anchors for the skill-based structures. Work at various levels within the structure can then be slotted between the anchors.
For example, if the entry market rate for operator A is $12 per hour and the rate for a team leader is $42 per hour, then the rate for operator B can be somewhere between $12 and $42 per hour.
The usefulness of this approach depends on how well the extreme benchmark jobs match the organization's work and whether they really do tap the entire range of skills.
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A(n) ________ is a good or service for which consumers will spend time and effort gathering information on price, product attributes, and product quality
A) impulse product B) homogeneous product C) shopping product D) convenience product E) emergency product
List at least three trends that have made media selection much more complicated than it used to be.
What will be an ideal response?
The method most likely to produce the most precise line of cost behavior and require the least amount of judgment is the scatter diagram.
Answer the following statement true (T) or false (F)
how does the Internet affect the way you purchase your textbooks?
a. the Internet gives you fewer choices b. the Internet increases your bargaining power c. the Internet provides you with less information d. the Internet decreases your bargaining power e. the Internet increases your switching cost