Asked by moses munyai on Jul 07, 2024
Verified
Jolene is at the midpoint of her pay grade. Her firm has a pay policy of matching the market. If Jolene decided to look for a similar job in another company, she would find that her pay:
A) is higher than the market average
B) is lower than the market average
C) is about the same as the market average
D) will be higher than the market in companies using broadbanding rather than traditional pay grades
E) will be higher than the market in companies using traditional pay grades
Pay Grade
A defined level within an organization's pay structure that determines the amount of compensation an employee receives.
Matching the Market
A compensation strategy where an organization ensures its pay levels for employees are competitive with those offered by other employers in the same industry.
Market Average
A measure or calculation that reflects the typical price or performance of selected stocks, goods, or services in a market.
- Understand the concepts of pay grades, pay ranges, and the significance of market positioning (lead, match, lag).
Verified Answer
JP
Jaskaran PattarJul 11, 2024
Final Answer :
C
Explanation :
Jolene is at the midpoint of her pay grade, which means her pay is already matching the market. Therefore, if she looks for a similar job in another company, she would find that her pay is about the same as the market average.
Learning Objectives
- Understand the concepts of pay grades, pay ranges, and the significance of market positioning (lead, match, lag).