All of the following are important factors in defining a market for compensation purposes EXCEPT:
A)the skill or knowledge required.
B)geography.
C)the ability to pay.
D)product and/or labor market competitors.

Question

Quizplus · Accepted Answer

While ability to pay may affect a company's ability to attract and retain employees in a particular market, it is not a primary factor in defining a market for compensation purposes. The skill or knowledge required, geography, and product and/or labor market competitors are all important factors in determining the appropriate benchmark for compensation levels.

All of the Following Are Important Factors in Defining a Market