Hrmn 300 Week 4 Quiz A 521 Human Resource Management 2168

Attempt 2Written: Nov 20, 2016 2:01 AM - Nov 20, 2016 2:20 AMSubmission ViewYour assessment has been submitted successfully.Question 10.25 / 0.25 pointsWhich policy can be described as paying the going rate for a particular job, within a particular market, based on research and salary studies?Resource:chapter 6, section 2, Developing a Compensation Package.a) competency-based policyb) skill-based policyc) broadbanding policyd) market compensation policye) management fit policyHide FeedbackA market compensation policyis to pay the going rate for a particular job, within a particular market based on research and salary studies.The organization that uses a market plus philosophy will determine the going rate and add a percentage to that rate, such as 5 percent. So if a particular job categorymedian pays $57,000, the organization with a market plus of 5 percent philosophy will pay $59,850. A market minus philosophy pays a particular percentage less thanthe market; so in our example, if a company pays 5 percent less, the same job would pay $54,150.Corre ct!Q uestio n 20 .2 5 / 0 .2 5 p oin tsW hic h o f t h e f o llo w in g i s a n i n te rn al p ay f a cto