Complete C17 WorldatWork Materials

Market Pricing - Conducting a Competitive Pay Analysis Questions and Answers

Question 21

What method can be used to establish a unique market rate for a hybrid job?

Averaging

Blending

Extrapolation

Regression

Question 22

What is the purpose of "aging" or "trending" the data in salary surveys?

To adjust the data for inflation

To adjust the data for changes in the job market

To adjust the data for changes in the industry

To adjust the data for changes in the survey methodology

Question 23

What makes compensation professional a valuable contributor in the organization's mission to succeed?

Offering higher compensation than competitors

Providing only monetary compensation

Determine the right mix of reward components that meet the goals of attracting the right talent while staying within the budget

Offering only non-monetary rewards

Question 24

What is usually located in an HRIS?

Information related to individual employees

Information related to groups of employees

Spreadsheet applications useful for gathering and sorting information