Human Resource Management

Milkovich, George T., Newman, J. M., & Gerhart, B. (2014). Compensation (11th ed.). New York, NY: McGraw-Hill.
Chapter 7 – Defining Competitiveness
Chapter 8 – Designing Pay Levels, Mix, and Pay Structures

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Read the appropriate chapters from our class textbook.
Briefly answer the following questions on or before Sunday 11:59 pm:
Note: If you are not with an organization at present, use this as an opportunity to gather informations from another person about these questions or conduct your own research on-line about a specific organization.
With whom does your organization compete in terms of compensation and benefits?
What is your company’s competitive pay strategy? Do they attempt to pay more, the same or less than the competitive average in your area and why?
What is your company’s policy regarding communications of salary grades and ranges? Why do they do what they do?
Explain the difference between salary ranges and salary bands. Which does your employer use and why?
What is a competitive pay line (or market line) and how is it used?


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