In order to tie job evaluation data and external wage/salary data together,a company needs to:
A) establish a job hierarchy.
B) have an open compensation system.
C) identify benchmark jobs.
D) use a skill-based compensation system.

Question

Quizplus · Accepted Answer

In order to tie job evaluation data and external wage/salary data together, a company needs to identify benchmark jobs. Benchmark jobs are key positions that are commonly found in the same industry or labor market and are used as reference points for determining pay levels. By comparing benchmark job salaries with the salaries of similar jobs within the company, the company can establish pay scales that are competitive with external wage/salary data. Establishing a job hierarchy and using a skill-based compensation system may also be helpful, but they are not necessary for this specific task. An open compensation system may even hinder the company's ability to properly tie job evaluation data and external wage/salary data together, as it may make it more difficult to maintain consistency and fairness in pay levels.

In Order to Tie Job Evaluation Data and External Wage/salary