HRM430 Market Competitive System

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HRM430 Market Competitive System
Discuss the basic building blocks of a market competitive pay system, including the relationship between internal…

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HRM430 Market Competitive System

HRM430 Market Competitive System

Discussions Week 3 All Students Posts 42 Pages 

Discuss the basic building blocks of a market competitive pay system, including the relationship between internal and external equity. In your readings and lecture this week you will learn about market competitive pay, which should be the driver of any compensation system.  You will be exposed to the notion of internal and external equity.

I encourage you to Google “competitive worth” as it gets to the root of compensation being a satisfier or disatisfier.  When an employee is working side by side with another who is earning more, what happens?  How would that make you feel?  So what’s the fix?  Thoughts?  What is meant by the 50% vs. 75th market percentile?  Why would one be used vs. the other?…