Share
Explore BrainMass

competitive pay policy

Can you help me to answer these questions.

Question: Which competitive pay policy would you recommend to an employer? Why? Does it depend on circumstances faced by the employer? Which ones?

Question: Contrast pay ranges and grades with bands. Why would you use either? Does their use assist or hinder the achievement of internal alignment? External competitiveness?

Question: What factors determine the relevant market for a survey? Why is the definition of the relevant market so important?

Question: What factors shape an organization's external competitiveness?

Solution Preview

Can you help me to answer these questions?

Question: Which competitive pay policy would you recommend to an employer? Why? Does it depend on circumstances faced by the employer? Which ones?
The competitive pay policy would depend on the circumstances faced by an employee. The reason is that if the business is in its beginning stage then it may be necessary to offer a high base salary and a high stock option. On the other hand if the business is in the growth phase and the market is growing fast it would be necessary to offer base salary on the higher side and stock options that are generous but above the average rate in the industry. The benefits offered would be in accordance to the industry average. If the industry was either mature or declining the base pay offered should be close to industry average and short term gains emphasized to attract the employees.
The circumstances faced by the employer that determine the pay policy are; The employer's attractiveness in the marketplace, the degree of competition from other recruiters and the availability of qualified employees in the market. ...

Solution Summary

This explanation provides you a comprehensive argument relating to competitive pay policy

$2.19