design a pay structure - Essay Example

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Compensation is one of the most critical areas of human resource management, and it has the likelihood of affecting employee morale. Therefore, the human resource department must make a compensation ...........

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Design A Pay Structure

Compensation is one of the most critical areas of human resource management, and it has the likelihood of affecting employee morale. Therefore, the human resource department must make a compensation structure that is termed as fair, competitive, motivating, and easy to understand. In order to create a pay structure, human resource managers can do this on their own, or they can use the services of external consultants to help them develop a pay structure (Tom, 1976). The steps involved in the designing of a pay structure are job analysis, job evaluation pay policy development, pay survey analysis and pay structure formation for a company.

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