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The importance of compensation
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What does the compa-ratio compare?
Your salary to midpoint of salary ranges in similar jobs.
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Is it important to prepare for a job evaluation?
Yes
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The goal of HR is to find a balance between...
...organizational goals and employee needs.
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What can you build with strategic compensation?
Trust
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Designing the internal pay structure can be based on...
...competencies and skills.
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Can you mention one of the two current issues related to compensation?
Compensation transparency or compensation flexibility.
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Which three steps are required to establish the internal value of jobs?
Job Analysis, Job Evaluation and Pay Equity.
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How do organizations set pay levels using external market values?
By external equity.
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How many main functions has the evaluation committee got? (Number)
3!
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What do companies "attract and retain" with total compensation?
Talent
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Can you mention one of the three evaluation methods?
Possible answers: Ranking ; Job Classification ; Point Method.
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How many steps are required (according to the presentation) to create a compensation strategy?
7
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Employees seek employers that pay competitive salary and...
...also provide benefits.
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