One of the benefits of the Hay System is that it can be used to:
A)determine the optimal mix of salary and fringe benefits.
B)determine the level of compensating wage differentials in risky jobs.
C)assign a position to each job within a firm's hierarchy.
D)assign a task to each employee on the basis of seniority.

Question

Quizplus · Accepted Answer

The Hay System is primarily used to evaluate and assign a position to each job within a firm's hierarchy. It considers factors such as required skills, knowledge, and level of responsibility to determine a job's worth and helps in creating a consistent and fair pay structure within an organization. While it can indirectly help in determining the optimal mix of salary and fringe benefits, it is not its primary purpose. It is also not used to determine compensating wage differentials or assign a task to each employee based on seniority.

One of the Benefits of the Hay System Is That