Managing Compensation Potential Quiz Questions

1. Tomax Corporation has 400 employees and wishes to develop a compensation policy to correspond to its dynamic business strategy. The company wishes to employ a high-quality workforce capable of responding to a competitive business environment. Suggest different compensation objectives to match Tomax’s business goals.

2. What is job evaluation? Explain the differences between the major job evaluation systems, noting the advantages and disadvantages of each.

3. Describe the basic steps in conducting a wage and salary survey. What are some factors to consider?

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