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human resource management

Can you please explain these questions in detail and utilizing your own professional experience:

1. Job analysis has been considered the cornerstone of human resource management. Precisely how does it support managers making pay decisions?

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

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1. Job analysis has been considered the cornerstone of human resource management. Precisely how does it support managers making pay decisions?

Job analysis helps in making pay decisions by providing accurate and reliable information about the various job positions in the organization. It highlights the similarities and differences in the content of the job and provide the rationale and basis of differences in pay structure of different positions. Thus, by highlighting the differences in terms of skill requirements, responsibility, authority and decision making authority associated with various jobs and other peculiar characteristic of each job position, Job analysis helps in the development of a fair pay structure, which is well accepted and understood the organizational employees. Job analysis determines the level of compensation which is needed to motivate and retain the employee to a particular job position. In other words, it makes it sure that the employee is being remunerated fairly as per the requirements of the position.

For example, in the industry where i work, ie, Financial Services and Brokerage, Job analysis helps in defining competitive pay packages for different positions, such as job of a financial analyst, back office person and a equity sales person. The skills required to perform each of these position is quite different and so is the ...

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Job analysis has been considered the cornerstone of human resource management. Precisely how does it support managers making pay decisions?

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