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fair and equitable compensation

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On personal perceptions, what would you consider as fair and equitable compensation?

Please use critical thinking to discuss the issues from two perspective, employee's and employer's.

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On personal perceptions, what would you consider as fair and equitable compensation?

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Let us first discuss from employer's perspective. As we know that businesses run for profit and their main aim is to maximize shareholder's wealth, the employer's perspective on fair and equitable compensation is certainly motivated by profit and wealth maximization motive. In other words, employer will consider a fair and equitable compensation based on certain benchmarks such as salary/compensation offered by peer companies or competitors to their workers and overall industry standards, etc.

Similarly, an employer will offer fair wage to employees based on their job profile/hierarchy in the organization, ...

Solution provided by:
Sheetal Jain, PGDM
Education
  • BComm, University of Delhi
  • Post Graduate Diploma in Management (Equivalent to MBA), All India Management Association
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