Answer the following questions Essay Example | Topics and Well Written Essays - 500 words

Answer the following questions - Essay Example Criteria, which allows for different pay structures include skills, efforts, responsibility levels and working conditions. These factors form the broader categories of pay levels. In deciding upon internal pay structures several other key factors also have to be considered. These include, whether the remuneration will be Job or Person Based; the degree of importance placed on performance and how its linked to remuneration; organisation’s position in the labour market (i.e. Pay Master or Low Payer) how important will internal and external equity be; degree of importance of hierarchy in pay; how flexible will the remuneration mix be, and what level of significance does seniority and job security holds (Lawler 2000). In addition to these, in determining pay levels an organisation must consider external and internal relativities, the worth of the person or the team to the organisation and the collective bargaining arrangements (Armstrong). Based on experience, the skills and degre e of importance placed upon performance in administering pay structures are the most important. In today’s competitive business environment, organisations need the best performance from the human capital in order to achieve a competitive edge. Therefore, skills, competencies and performance should be the main factors of importance influencing pay structures. Job Analysis resulting in Job Descriptions and Person Specifications. These facilitates the recruitment and selection process as well as training and performance appraisal functions Job Analysis involves the systematic gathering of information about jobs and analysing this information using subjective, rational or statistical analysis methods. One of the major decisions involved in a job analysis process would include, which method to use for information gathering on jobs. Secondly, how to analyse these collected data should be decided. While a host of