Question

1. In using published pay surveys to assess your organization’s pay ranges, the least difficult task is:

a. Identifying the best pay survey.

b. Matching your organization’s positions to pay survey positions.

c. Finding the median rate in the published pay surveys.

d. Assuring the pay survey includes data sorts that match your organization’s: geographic; budget; type organization; and number of employees.

Answer 1

Answer:

The correct option is C i.e. finding the median rate in the published pay surveys

In using published pay surveys to assess your organization’s pay ranges, the least difficult task is Finding the median rate in the published pay surveys as the median can be obtained directly by the application of formula to the data or using some tool or application of software to the data which has already been found for the use by the organisation and which has been sorted for the use of organisation.

a) Identifying the best pay survey is the difficult task and involves an extensive research by the top officials of the human resource department of the organisation. Identifying the best pay survey involves comparing the various surveys as per the prevailing labour laws of a particular country, prevailing market standards and the culture of the internal and the external environment of the organisation.

b) Matching your organization’s positions to pay survey positions is an another difficult task and involves the financial analysis of the organisation and forecasting the future business capacity of the organisation. Further, it involves analysing the market situation of the industry where the organisation is working.

d) Assuring the pay survey includes data sorts that match your organization’s geographic; budget; type of organization; and number of employees is also a difficult task. Matching all these constraints in accordance with the internal and external environment of the organisation sometimes become impossible since every organisation has different strategy as per their geographical location, budget of the organisation, type of organisation and number of employees in an organisation is concerned. Even if geographical location, budget of the organisation, type of organisation and number of employees in an organisation matches with that of the organisation in question, there are various other situations which contribute in the decision making for the pay structure.