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Rewarding Individual Employees Through Variable Pay Programs
Essay specific features
Written by:
Joyce R
Date added:
December 21, 2013
Level:
University
Grade:
A
No of pages / words:
5 / 1312
Was viewed:
4187 times
Rating of current essay:
Essay content:
The best pay system pays the
job what it is worth while also paying competitively relative to the labor market. Some
organizations prefer to be pay leaders by paying above the market, while some may lag
the market because they cannot afford to pay market rates, or they are willing to bear the
cost of paying below market...
displayed 300 characters
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Pay is often the highest single operating cost of an
organization, which means that paying too can make the organization's products or
services too expensive. It's a strategic decision an organization must make, with clear
trade-offs.
A variable pay program is a pay plan that bases a portion of an employee's pay on some
individual and/or organizational measure of performance...
displayed 300 characters
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