when are companies most likely to find lump sum increases useful? when the cost of living has increased when employees are at the top of their pay ranges when they are trying to improve employee satisfaction when employees are at the bottom of their pay ranges

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21-10-2022
Business

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when are companies most likely to find lump sum increases useful? when the cost of living has increased when employees are at the top of their pay ranges when they are trying to improve employee satisfaction when employees are at the bottom of their pay ranges

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shomerajeshwari90 shomerajeshwari90 · Answer 1 · 2022-10-31T02:48:58-04:00

Companies most likely to find lump sum increases useful when employees are at the top of their pay. So, the correct answer is (b).

An increase in salary is compensated with a lump sum increase. It is not added to the base wage that is fixed. It is awarded as one lump cash payment. It is also known to as a lump sum bonus for this reason.

While lump sum increases have different applications, their best usage is as a salary increase alternative for employees whose fixed starting salaries have already reached their extremely high levels for that specific position.

The justification is straightforward: the manager wishes to acknowledge the employees for their excellent work, which contributed to the company, therefore rather than raising salaries, the manager offers a lump sum increase, which is a single payment made just for their excellent work.

The complete question is here:

When are companies most likely to find lump sum increases useful?

a. When they are trying to improve employee satisfaction

b. When employees are at the top of their pay ranges

c. When employees are at the bottom of their pay ranges

d. When the cost of living has increased

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