Purchase Solution

External Equity and Other Compensation Issues

Not what you're looking for?

Ask Custom Question

Explain and analyze the concept of external equity and the related compensation concepts that enhance a competitive compensation program. Analyze relevant research in external factors that influence pay and provide specific examples to support your findings.

Purchase this Solution

Solution Summary

This is an analysis of the concept of external equity and the related compensation concepts that enhance a competitive compensation program. Relevant research in external factors that influence pay are included along with specific examples.

Solution Preview

Issues related to external factors

(I put several references in this response. If you want to use any one of them, please put the bibliographical reference at the end of the paper in a separate area, since this is APA format. I identified the items to be moved with a / -- just remove the slash and place the reference in alphabetical order in the references section.
The best reference on APA 6th edition format that I have found is this one:
https://owl.english.purdue.edu/owl/resource/560/01/)

External Equity is an important perception in the mind of an employee, because it is a measure of the value of the work of that employee in the eyes of management.

The Business Dictionary puts it this way - it is:
Employees' perception of the conditions and rewards of their employment, compared with those of the employees of other firms. (External Equity, 2014)

/"External Equity" (2014) Business Dictionary. WebFinance, Inc
http://www.businessdictionary.com/definition/external-equity.html

However, this is not just a matter of what the employee thinks - the comparison is made with employees in similar positions in other companies. So the employee discovers through research what the general managerial consensus is of the value of her contribution to the business. This can help that employee to decide whether to remain in that company because of a comparatively good ...

Solution provided by:
Education
  • MEd, Grand Canyon University
  • MBA, University of Phoenix
Recent Feedback
  • "Thank you. GJ"
  • "thank you! there was a lot of information in this outline and to reduce it to a summary was difficult. I appreciate your time, effort, and attention to the details."
  • "This is a perfect example of what is considered as scholarly work and great presentation. Thanks I can finally say expert "YESSSSSSSSSSSS" "
  • "Thank you so much, Roberta, great response to help me fulfill this assignment."
  • "Thank you"
Purchase this Solution


Free BrainMass Quizzes
Employee Orientation

Test your knowledge of employee orientation with this fun and informative quiz. This quiz is meant for beginner and advanced students as well as professionals already working in the HR field.

Change and Resistance within Organizations

This quiz intended to help students understand change and resistance in organizations

Production and cost theory

Understanding production and cost phenomena will permit firms to make wise decisions concerning output volume.

Organizational Behavior (OB)

The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.

Understanding Management

This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.