course hero which of the following is the most common compensation practice among small firms

What is a career development technique that especially helps small business owners, women, and minorities?

A career development technique that especially helps small business owners, women, and minorities is: group mentoring. Kay is working with Charity to help Charity identify the type of career she wants and what steps to take to realize her goals. Kay and Charity are: in the direction phase of career planning.

What is indirect compensation?

Indirect compensation in a pay mix typically includes: health insurance and vacation time. Job specifications: consist of worker characteristics necessary for successful performance. Companies that pay employees at rates above the market are generally: larger companies in less competitive industries.

What is the perceived fairness of what an employer pays relative to what other employers pay for the same type of labor?

The perceived fairness of what an employer pays, relative to what other employers pay for the same type of labor, is known as: external equity. Variable compensation takes a variety of forms, including: profit sharing. Elitist compensation systems are most likely: used by older firms with mature products.

What is Carlos reviewing?

Carlos is reviewing the knowledge, problem-solving skills, and accountability for a particular job. He is most likely reviewing:

What is formal effort?

formal, organized, ongoing effort to develop people skills.

How many hours did Dan contribute to Mario Development Group?

Dan has contributed about 2 hours to the project, but he will receive equal credit with Laura and Chuck for the project's completion. In HR terms, Dan is: use bonuses or noncash rewards. Mario Development Group wants to give employees incentives while getting the maximum tax advantage for them and the firm.

What is the job hierarchy in compensation?

A job hierarchy in a compensation plan is primarily built on: job specifications, descriptions, and ratings. When conducting a job evaluation, it is most important to remind employees that: your focus is on the value of the tasks, not their individual performances.

Why is it important to have a job based compensation plan?

Job-based compensation plans have the advantage of: appearing rational and systematic, thereby minimizing employee complaints. When implementing a job-based compensation plan, it is best that a company: involve employees. When setting up a job-based pay plan, it is most likely important for a firm to:

What does the secretary complain about in chapter 10?

In the opening case in chapter 10, a secretary complains that janitors make more money than she does. Her complaints and Dr. Smith's response show that Sigma's compensation system

What does emphasis on monetary rewards mean?

An emphasis on monetary rewards will generally reward a company with: more achievement and responsibility among employees. The practice of openness in a compensation system generally leads to: increased fairness in managerial pay decisions.

What is Carlos reviewing?

Carlos is reviewing the knowledge, problem-solving skills, and accountability for a particular job. He is most likely reviewing:

What is fixed pay?

fixed pay received on a regular basis.

Do family employees earn more compensation?

Family employees would earn more compensation at similar positions in businesses not owned by family members.

What is compensation program?

Compensation programs are a vehicle by which an organization communicates to employees its mission, vision, values, and the strategic priorities that must be focused on. Developing a clear strategy for how team members are compensated for their contributions to your organization’s mission or operations is essential.

What is the pain point of compensation resources?

A pain point many larger organizations might have is determining how to compensate and engage their board members. Compensation Resources has specific abilities that aim to support programs focused on board member pay, retainers, and equity compensation.

What is Johnson Associates?

With over 20 years of experience in its space, Johnson Associates is a leading compensation consulting firm for large and multi-national financial services firms.

Why is Mercer a compensation consultant?

Mercer stands out as a compensation consultant firm because they have special services dedicated to global benefits management. Compensating your executives can already be difficult to navigate, and when they’re all over the world, it’s made that much harder.

What is HR works?

HR Works is made up of human resources professionals who have served all types of clients for 28 years. HR Works aims to help your business or organization minimize HR risks and increase employee productivity through a variety of compensation consulting services.

How many experts does Mercer have?

By partnering with Mercer, you have access to their dedicated team of 9,000 experts specialized in executive compensation and the complexities of the global economy.

Does FW Cook provide executive compensation?

Although FW Cook only provides consultation for executive compensation, their offerings within this category are fairly broad. They include: