How can a compensation professional integrate, internal job structures with external market pay rates? Discuss in the light of competitive pay systems.
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How can a compensation professional integrate, internal job structures with external market pay rates? Discuss in the light of competitive pay systems.
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- Why are many companies interested in moving to a pay-for-performance strategy?Describe, What are the potential ethical implications of certain compensation practices, such as performance-based pay or incentive structures?what are the potential ethical implications of certain compensation practices, such as performance-based pay or incentive structures?
- What are four important issues that will shape compensation professionals’ work for years to come. Why?What are the benefits of effective compensation strategy in the workplace ?What quantitative and qualitative metrics would you supplest to evaluate improvements to compensation practices such as "benefits,, career devlopment, rewards,recognition" and what would be the overall effectiveness?
- what are the benefits of effective employee compensation strategy in the workplace ?What is compensation mangement and why is legislation important in Compensation management?Consider contemporary practices such as skill – competency – based plans, broad banding, market pricing, and pay – for – performance plans. Identify potential pay discrimination issues relating to these compensation practices. What alternative strategies would you recommend?
- Merit pay plans appear to be the most common form of compensation in the United States. Based on your knowledge of merit pay systems, identify one job for which merit pay may be appropriate and another for which it may be inappropriate. What is the rationale for your choices?How vision and mission of any organization may affect the compensation approach? explain brieflyIncreasingly, companies are basing compensation systems on what workers know instead of the more common systems based on the hours they are on the job or how much they produce. How do you feel about this? What do you think are the advantages and disadvantages of a knowledge-based compensation plan?