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Importance of Establishing a Pay Structure

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Why is establishing a pay structure so important for organizations?

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Solution Summary

The response provides a brief discussion on establishing a pay structure in an organization and shows six important reasons for establishing a pay structure.

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Establishing a pay structure is important because it serves as a catalyst to organizational unity and fairness.

Other reasons why a pay structure is important are:

1.) Equity and equality
Pay structure serves as "internal equity method, which uses a tightly constructed grid to ensure that each job is compensated according to the jobs above and below it in a ...

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