Asked by Joycelyn Acheampong on Jul 07, 2024

verifed

Verified

Data from wage salary survey loses market reliability after:

A) 5 years
B) 1 year
C) 2 years
D) 4 years
E) 3 years

Wage Salary Survey

A research tool used to determine the standard rates of pay for specific positions within an industry or geographical area.

Market Reliability

The degree to which a market consistently operates efficiently and effectively, providing confidence to participants.

  • Determine the influence of market dynamics on managing compensation.
verifed

Verified Answer

ZK
Zybrea KnightJul 09, 2024
Final Answer :
C
Explanation :
Typically, data from wage salary survey loses market reliability after 2 years. This is because of the changes in the job market, job roles and responsibilities, and the economy. After 2 years, new jobs may emerge, while some may become redundant, thereby making the previous salary data no longer relevant.