Compensation and Benefits

Question 1
What is the purpose of a survey? How would you design a survey for setting pay for welders? How would you design a survey for setting pay for financial managers? Do the issues differ? Will the techniques used and the data collected differ? Why or why not?

Your response should be at least 300 words in length. You are required to use at least your textbook as an in-text cited source to support your response. All sources used, including the textbook, must be referenced with a full citation in APA format at the end of your entry. Both paraphrased and quoted material must have accompanying in-text citations.

Question 2
Based on the reading in Chapter 7, there are consequences of pay level and pay mix decisions. Identify and briefly discuss each factor. What pay level does the efficiency wage predict? What pay level does the fairness wage predict? Does the theory accurately predict organization behavior? Why or why not?

References:
Milkovich, G. T., Newman, J. M., & Gerhart, B. (2014). Compensation (11th ed.). New York, NY: McGraw-Hill/Irwin

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