Answer: There are basically four perspectives in views of compensation. These are as follows:
• Pay works as a measure of justice.
• Benefits acts as a reflection of justice is society.
• Gain or loss jobs attributed to differences in compensation.
• Pay increase lead to price increase.
• Giving stock as a means of pay to employees creates sense of ownership.
• Links between executive pay to company’s performance supposedly increases stockholder’s returns.
• Major expense.
• Increase employee behaviors and improve organization’s performance.
• Source of …show more content…
Who should be involved: It must be decided by which extent varies parties will be involved. In that case a HR employee or a supervisor collect all required data and job holders/supervisors provide those kinds of data. Employees above and below the level of the job analyzed could be included. For this process it is important to get support from top management.
How useful are the results: Results should be judged in terms of dependability, strength, suitability, helpfulness, costs etc.
7. What are the differences between a job and a task?
Job: Employees performance as part of their occupations, a specific duty, role, or function. It is a single work assignment or operation.
Task: Tasks clearly advances a work assignment and is a logical portion of that assignment. It is a single and separate activity and an assigned piece of work often to be finished within a certain time.
Internal equity is about the fairness of the pay structure. Internal equity occurs when employees feel that their performance is fairly