Market Competitiveness Of Organization’s Pay System

Assess the concept of market competitiveness in relation to an organization's pay system, particularly when it is unable to offer its employees market competitive salaries because of a lack of financial resources. Propose alternative approaches for organizations which have limited financial resources and outline at least three specific steps that could be taken to minimize the impact this could have on the firm's success.

Solution Summary

The solution gives a bit of background on why people chose to work for an organisation and how pay ties into that before making suggestions on how the company's financial system can be addressed in terms of having their employees content with their wages. 594 words with 1 reference.