Policy for external competitiveness and forms of pay
Not what you're looking for?
Using concepts related to external competitiveness, provide pay recommendations for a manager's position in Time Warner . Apply appropriate pay concepts to determine the pay for a managerial position.
What policy regarding external competitiveness would you advise? List the options and the pros and cons of each policy option. Offer the rationale for your recommendation.
What forms of pay and in what percentages would you recommend? Again, offer your rationales.
Purchase this Solution
Solution Summary
The solution creates a policy for external competitiveness and forms of pay. The forms of pay and recommended percentages are determined.
Solution Preview
Pay Structure for Manager
Some people think that there is no difference between compensation and salary. Employee compensation is a vital part of human resource management. Wages, salary and other forms of employee's compensation constitute a very large component of operating cost. Compensation is much more than the monetary incentive and rewards provides by the employers (Guide to Managing Human Resources, 2007).
Money often is looked upon as a means of fulfilling the most basic needs of man. These needs are made available through the purchasing power provided by monetary income- wages and salary. For the accomplishment of a specific task, various rewards are given to the employees. These rewards are in the form of pay plans. For a manager's position, the pay structure should be defined in an appropriate manner (Gupta, 2005).
There are various kinds of pay plan. These plans are prepared for the benefit of the employees or to motivate them in the organization. Various pay- plan options are merit based pay plan, pay for performance plan, Merit plus incentive, Pay-for-knowledge plans, etc. There is a ...
Purchase this Solution
Free BrainMass Quizzes
Basics of corporate finance
These questions will test you on your knowledge of finance.
Situational Leadership
This quiz will help you better understand Situational Leadership and its theories.
Income Streams
In our ever changing world, developing secondary income streams is becoming more important. This quiz provides a brief overview of income sources.
Paradigms and Frameworks of Management Research
This quiz evaluates your understanding of the paradigm-based and epistimological frameworks of research. It is intended for advanced students.
Organizational Behavior (OB)
The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.