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Pay structure for retaining top top

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Week 7 Discussion 1 "Pay Structures"
1.) Justify how you would organize pay structure for top executives and how it might differ from a pay structure for human resource professionals or sales professionals within the same company. Debate the equity of offering executives more lucrative pay structures and how that affects the motivation of the lesser-paid professionals.

Week 7 Discussion 2: "Pay and Merit"
1.) Imagine your organization is in survival mode as it tries to ride out the economic downfall. The organization has adopted a strategy of 20% reduction in staff compensation in order to prevent layoffs. It's not plausible this strategy will retain top talent if it continues to be the company's strategy. As an HR executive at the company you have been asked to develop a pay-for-performance strategy. Address how you would approach this task and what you would propose.

Please note these are discussion questions not an assignment. Also add references, also add The WorldatWork Handbook of Compensation, Benefits & Total Rewards as a reference as well.

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Solution Summary

The answer to this problem explains the method of developing pay structure. The references related to the answer are also included.

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The pay structure for a human resource professional or sales profession is determined by checking and updating the job description and comparing with job postings for similar positions. The core functions are compared (1). The competitive rate for the job is considered. It is necessary to find out what other companies are paying for the job. Next a salary range is created for the position. Finally pay and benefits are bundled together.

The pay structure for top managers depends on what it takes to get the selected person to accept the offer (2). First the company decides on the type of top executive it needs, next it identifies ...

Solution provided by:
Hatim Baxamusa, MBA
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
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