To determine a fair rate of employee compensation,most firms rely upon:
A)retention targets
B)wage and salary surveys
C)historical records
D)Cartesian labour analysis
E)Brownian motion studies

Question

Quizplus · Accepted Answer

Wage and salary surveys are the most commonly used method to determine a fair rate of employee compensation. These surveys provide information about what other companies are paying for similar jobs in the same industry, allowing firms to benchmark their compensation packages and make adjustments accordingly. This helps ensure that the firm is offering competitive compensation to attract and retain top talent.

To Determine a Fair Rate of Employee Compensation,most Firms Rely