Asked by Joycelyn Acheampong on Jul 07, 2024
Verified
Data from wage salary survey loses market reliability after:
A) 5 years
B) 1 year
C) 2 years
D) 4 years
E) 3 years
Wage Salary Survey
A research tool used to determine the standard rates of pay for specific positions within an industry or geographical area.
Market Reliability
The degree to which a market consistently operates efficiently and effectively, providing confidence to participants.
- Determine the influence of market dynamics on managing compensation.
Verified Answer
ZK
Zybrea KnightJul 09, 2024
Final Answer :
C
Explanation :
Typically, data from wage salary survey loses market reliability after 2 years. This is because of the changes in the job market, job roles and responsibilities, and the economy. After 2 years, new jobs may emerge, while some may become redundant, thereby making the previous salary data no longer relevant.
Learning Objectives
- Determine the influence of market dynamics on managing compensation.
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