Which of the following are challenges for compensation professionals? a) Increased minimum wage rates do not...

Which of the following are challenges for compensation professionals?

a) Increased minimum wage rates do not equate in higher compensation budgets, which could lead to the reduction in discretionary benefits

b) Managing inequities between minimum wage workers in a company with facilities located in different states

c) All of the above

d) Managing inequities between higher paid workers and minimum wage workers because the pay difference will decrease

e) Uncertainty in budget planning as many states debate whether to increase the minimum wage rate

Solutions

Expert Solution

The correct option is

c) All of the above

Compensation professional are those who are trained and knowledgeable individuals in terms of employee compensation and other human resource issues. The various states have various levels of low wages and hence compensate find it's very difficult to adhere to the state law and at the same time managing the employees wage working at different states. In the budget planning they have conversation weather to increase minimum wage rate. When wage rate is increased then it has to be increased in all the states. This may impact the overall budget assigned for the compensation professionals. When the minimum wage rate is increased then the other discretionary benefits are reduced because the budget could not be surprised. So overall all are the challenges for compensation professionals

keosha answered 1 year ago

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