Managing Comp Quiz Questions

Managing Comp Quiz Questions - Managing Compensation...

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Managing Compensation Potential Quiz Questions 1. Tomax Corporation has 400 employees and wishes to develop a compensation policy to correspond to its dynamic business strategy. The company wishes to employ a high- quality workforce capable of responding to a competitive business environment. Suggest different compensation objectives to match Tomax’s business goals. Establishing compensation programs requires both large and small organizations to consider specific goals—employee retention, compensation distribution, and adherence to a budget, for instance. Compensation must reward employees for past efforts (pay-for- performance) while motivating employees’ future performance. Internal and external equity of the pay program affects employees’ concepts of fairness. Organizations must balance each of these concerns while still being competitive. The ability to attract qualified employees while controlling labor costs is a major factor in allowing organizations to remain viable in the domestic or international markets. 2.
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Managing Comp Quiz Questions - Managing Compensation...

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