HRMT415 Unit 3 DB Develop a compensation plan for an organization that promotes both internal and external pay equity
Develop a compensation plan for an organization that promotes both internal and external pay equity.
There are many types of monetary compensation not tied directly to salary or hourly pay.
400600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas:
- Explain the difference between regular pay (for normal work hours and duties) and other forms of direct compensation, such as bonuses.
- How would you recommend that an organization blend the types of pay to maximize employee motivation?
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