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500 WORDS MINIMUM!! a) Define Pay Structure. Discuss why pay structure is an essential component of compensation...

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General Management

500 WORDS MINIMUM!!

a) Define Pay Structure. Discuss why pay structure is anessential component of compensation management?

b) What benefits do an effective pay structure provide to anorganization? What negative consequences may result from theimplementation of an ineffective pay structure?

c) Describe the steps one should take to implement a successfulpay structure in his or her organization?

Answer & Explanation Solved by verified expert
4.4 Ratings (705 Votes)
a Pay Structure means the Total salary of an employee which is made up of various components Bascially the total salary of an employee included Gross Salary Allownances Prequisites Deductions Taxes Net salary Pay structure is an essential component of compensation management because the workers the employees working in an organisation gets paid for the services they give in the organisation the pay they get is actually their source of income The compensation management provides pay to their employees after adding or deducting their allownances perquisites and tax which they pay to the government for the    See Answer
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