Homelife,a national chain of high-end furniture stores,employs nearly 800 workers.In the past few years,the company's market share has dropped significantly,and employee turnover has increased.Upper management is considering the implementation of a new compensation policy in its efforts to turn the company around.Historically,the company has paid all employees similarly with some variation for seniority but no distinction between high and low performers. Which of the following,if TRUE,supports the decision by Homelife executives to implement competency-based pay?
A) In an effort to save money, Homelife will be reducing the employee training budget over the next 3 years.
B) Most Homelife managers are men, but executives hope to increase the number of minority women working for the company.
C) Homelife sales associates currently receive base salaries in addition to sales commissions, but they have monthly sales quotas.
D) Homelife plans to organize employees into teams, provide regular training, and frequently assess workers' skills and knowledge.
Correct Answer:
Verified
Q49: _ means collapsing salary grades and ranges
Q84: Broadbanding refers to the requirement to pay
Q88: How is executive pay typically determined? Why
Q89: High-performance work systems typically use competency-based pay
Q90: Which of the following makes executives personally
Q92: What is the primary disadvantage of traditional
Q96: What method is used by most employers
Q97: According to research,U.S.women earn approximately _ as
Q98: A company using competency-based pay compensates employees
Q98: According to research,what is the LEAST likely
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents