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Answered: - Each technique used to develop an internal pay structure h


Each technique used to develop an internal pay structure has advantages and disadvantages. In recent years there has been a lively debate over the efficacy of skill-based pay structures. Employees seem to embrace the concept, but several significant implementations have ended with the plans being discontinued. Using the text as a base and then seeking out other sources on skill-based pay, perhaps your own experiences as well, present your observations.

Newman, Jerry; Milkovich, George; Gerhart, Barry (2013). Compensation, 11th edition. McGraw-Hill Higher Education

Chapter 6 presents advantages and disadvantages of knowledge or skill-based pay. Respond to the following:

  • After?reviewing?both?the?advantages?and?disadvantages,?which?do?you?find?more?compelling?and?why?

should be at least 500 words.?


SKILLS BASED PAYMENT

 

For better performance of employees and other staff, compensation is vital for their

 

performance since it helps to boost their morale and help in their retention. The staff can...

 


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