Asked by pizza and spagghetti on May 16, 2024
Verified
What is a potential drawback associated with using compensation consultants to gather labour market information?
A) The data is usually not presented in a "user-friendly manner"; hence,it is difficult to use.
B) The data is usually old and not relevant.
C) The data may be restricted to client firms; hence,it does not necessarily comprise an appropriate sample.
D) The data tends to be more expensive compared to designing and administering your own survey.
Compensation Consultants
Specialists who advise organizations on their compensation strategies, including pay structures, benefits packages, and compliance with relevant laws and regulations.
Labour Market
The supply and demand for labor, where employers seek to hire workers and workers look for jobs, often analyzed regionally or nationally.
Appropriate Sample
Refers to a subset of a population selected for analysis or experimentation, which accurately represents the whole in the context of statistical study or research.
- Recognize the sources and validity of compensation data, including the drawbacks of certain sources.
Verified Answer
Learning Objectives
- Recognize the sources and validity of compensation data, including the drawbacks of certain sources.
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