Compensation Equity: Definition & Importance Video


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question 1 of 3

Bob is a machinist who discovers that machinists at the neighboring factory are paid a higher wage than he is for doing the same job. This is an example of what?

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1. Tim and Anne were hired on the same day at the same company. They have similar skill sets and do the same job. However, Anne is paid less than Tim. Which of the following laws is being violated?

2. Bob and Rob work for the same company. They have the same responsibilities and the qualifications. They also perform equally well, but Rob is paid more than Bob. This is an example of which of the following?

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About This Quiz & Worksheet

This quiz and corresponding worksheet will help you gauge your understanding of the main types of compensation equity. Topics you'll need to know to pass the quiz include understanding the characteristics of internal and external equity and inequity.

Quiz & Worksheet Goals

Use these assessment tools to assess your knowledge of:

  • Identifying which type of equity or inequity is exemplified in a given scenario
  • The act that would be violated if a wage is paid based upon an employee's gender
  • Why compensation equity is important

Skills Practiced

This worksheet and quiz will let you practice the following skills:

  • Defining key concepts - ensure that you can accurately define main phrases, such as equity and inequity
  • Reading comprehension - ensure that you draw the most important information from the related compensation equity lesson
  • Interpreting information - verify that you can read information regarding types of compensation equity and interpret it correctly
  • Knowledge application - use your knowledge to answer questions about the importance of compensation equity

Additional Learning

To learn more about the types of compensation equity available, review the corresponding lesson on Compensation Equity. This lesson covers the following objectives:

  • Define compensation equity
  • Compare and contrast external and internal equity
  • Examine employee equity
  • Recognize the importance of compensation equity