Asked by Amanda Nazimi on May 25, 2024
Verified
Company ABC Inc.tends to offer compensation packages below market for entry-level positions,while compensating significantly above market for more highly skilled senior positions in the company.ABC Inc.is utilizing a hybrid compensation policy.
Hybrid Compensation Policy
A compensation plan that combines elements of both fixed salaries and variable pay based on performance, aiming to motivate and retain employees.
Compensation Packages
The total combination of salary, bonuses, benefits, and any other form of financial reward provided to employees.
Market
The environment in which goods, services, and labor are exchanged, influencing prices, employment rates, and economic conditions.
- Become familiar with the factors affecting executive compensation and its relationship with company size, its achievements, misconduct, and political relationships.
- Analyze pay strategies with respect to their market positioning, considering whether they lead, match, or lag behind the market trends.
Verified Answer
Learning Objectives
- Become familiar with the factors affecting executive compensation and its relationship with company size, its achievements, misconduct, and political relationships.
- Analyze pay strategies with respect to their market positioning, considering whether they lead, match, or lag behind the market trends.
Related questions
As a Human Resource Compensation Specialist,you Are Recommending That Your ...
What Is the Most Important Factor Driving Executive Compensation ...
A Lead-The-Market Compensation Policy Should Be Deployed Only in Situations ...
The Key Reason That Executives Earn So Much More Than ...
Peter Drucker, the Management Expert, Has Argued That CEO Pay ...