BUS434 Wk 2 dis 1
BUS434 Wk 2 dis 1
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This 1 page Study Guide was uploaded by Experthelper Notetaker on Friday November 13, 2015. The Study Guide belongs to a course at a university taught by a professor in Fall. Since its upload, it has received 17 views.
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Date Created: 11/13/15
BUS434 Wk 2 dis 1 Compensation System A basic premise of a marketbased economy is that each individual has the opportunity – through education, experience, hard, work, etc. – to improve his or her job earning potential. As a result, some employees may enjoy greater earnings than their colleagues. Assess how an organization can create a fair, marketcompetitive compensation system that provides greater rewards for those who earn it, yet is viewed as fair and equitable by the organization. Respond to at least two of your classmates' postings. A good example of a fair, market-competitive compensation is that of the Federal government. A pay scale is use to compensate employees based on qualifications, knowledge, skills, and Abilities. I believe this system to be fair, because although everyone’s background is different, all are given the opportunity to apply and prove that they are capable of doing the job. Companies can create this type of environment by offering additional bonuses to employees based on their output, customer appreciation surveys, and awards for such things as upselling additional merchandise. Supervisors and managers know the employees that work hard, and go the extra-mile. It’s just unfortunate that many time these are the employees that are overlooked, and end up leaving the organization for better pay or other worthy desires. If employees were treated fairly, and felt appreciated, there would not be too much fuss about compensation. When a person applies for a job, they know exactly what they are going to be paid. It’s usually the politics, and unnecessary stress that gets them riled up. When employees are riled up, the first complaint would be about how little pay they receive for all the hard work they perform. This is one of the easiest ways for employees to become unionized, which is every employer’s nightmare.
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