There are various ways to prepare different pay plans depending on the ________ of the job. Basically, the ________ of the job needs to be determined.
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → worth; price
Option (1) description; profile — Incorrect. The job description and the profile of the job holder describe the job and the person wanted. They do not fix pay.
Option (2) worth; profile — Incorrect. The first blank fits, but a profile describes the person wanted.
Option (3) description; price — Incorrect. The second blank fits, but pay plans vary with the worth of the job.
Option (4) worth; price — Correct. Pay plans depend on the worth of the job, that is, how much it means to the firm. So its price, the pay it should carry, is fixed first.
NCERT (2026-27 Edition): “(viii) Compensation All organisations need to establish wage and salary plans for their employees. There are various ways to prepare different pay plans depending on the worth of the job. Basically the price of the job needs to be determined. Compensation, therefore, refers to all forms of pay or rewards going to employees. It may be in the form of direct financial payments like wages, salaries, incentives, commissions and bonuses and indirect payments like employer paid insurance and vacations. …” |