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In this person-focused pay model, employees are rewarded for increasing their skills within a single job family, even if the skills do NOT build on each other.

Briefly describe the five steps to constructing a pay structure. You do not need to provide detailed examples of each step, but you do need to identify the step and in a sentence or two describe what that step entails.  Note: I reversed steps 2 and 3 from the textbooks version. For maximum credit you should identify the steps in the order I presented them. 

(MA) When doing a strategic analysis, which of the following represent EXTERNAL factors in which we are interested?

Which of the following are the four “universal compensable factors”?

Judy is the compensation analyst for a mid-size engineering firm that specializes in designing, building, and repairing road crossings for railroads. Her boss has indicated that it has been hard to find talented individuals to fill positions and keep up with demand. What type of pay policy should Judy implement to help resolve the situation?

XYZ Company ranks its employees from the best performer to the poorest performer, and the employee with the best performance receives the highest ranking. What type of performance appraisal system is used by this company?

(MA) Which of the following are key elements of a successful merit pay system?

Which would be an example of a company using incentive pay to further business objectives?

Which of the following is NOT one of the four activities employers should do to promote non-discriminatory appraisal practices?

Regression analysis finds the best fitting line between two variables. When compensation specialists apply the method to establish market competitive compensation, they call this line the ________________.