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4 Policy Guidance Paper

471 Words2 Pages

The four-policy guidance explains the pay system and adjusts it according to the company’s objectives.
• The company’s internal alignment also refers to comparisons of jobs or skill levels within the organization. For instance, the worker’s skills can be compared to jobs. The payment considers the person’s qualifications regarding the accomplishment of the company’s goals. Internal alignment determines the relevant difference in pay for workers performing different work. Pay relationship affects the employee’s decision to stay with the organization; the decision about investing the time for training and become more flexible and accommodating. For instance, when employee compares the pay with others in the company, it affects the person’s capability. Fairness also can specify non-discriminative practice, like paying for the performance and achievements and not the personal characteristics such as gender, ethnicity, or age.
• External competitiveness also refers as comparisons with competitors. It reflects how much the company pays to compare to other organizations. For instance, some businesses might apply their payment methods as market-driven strategies. The …show more content…

The employee contribution will affect the company’s success and profitability. For instance, the company can determine the best stimulus to motivate worker’s productivity. Offering pay mix; higher for better performance. The employee contribution will evaluate the company’s decision to compensate and reward the workers. The business strategy includes to identified the engaging elements that workers value. For example, if people appreciate lifework balance, the flexible schedules and paid vacation time will be the most desirable elements. The company needs to create advantages to attract good

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