HRM 324 Week 2 - Assignment
Once the organization is done with the job analysis the company then decide on the pay structures. Pay structure is defined as the process in which the business organization set up the pay for a jab in the organization. The process of pay structure deals with the internal and the external analysis to determine the compensation plan of a job profile. The internal and the external equity are considered the most important pay structures.
Internal equity exists in the organization when an employee realize that he is being treated and rewarded fairly according to the respective value of their posts in the organization. It is a situation when an employee understands that his duties and responsibilities, bonuses and the working conditions are fair and even when they are compared with those of the other employees who are working at the same post in the organization. The factors of the internal equity are the e