Labor costs are often one of the most significant portions of a company's cost structure. Employers...

Labor costs are often one of the most significant portions of a company's cost structure. Employers frequently implement policies, like salary bands, in an attempt to control these costs. Please read the following article, "How to Negotiate your Next Salary (Links to an external site.)" and answer the questions below in a discussion board posting by Thursday, October 29th at 11:59 pm.

Did you negotiate the salary at your current position (or your most recently held position? Why or why not? If you did negotiate, were you successful and how did you defend your requests?
Given that in perfectly competitive markets, employees are paid the marginal revenue product of their labor, do you think a manager should use salary bands for hiring its employees? Why or why not? What are the advantages and disadvantages of using salary bands?

Expert Solution

Answer:(1&2) Yes i did negotiate my salary at my current position and i was successful in my endeavour.Truth is whatever i say in my request never makes much difference.Although, my Boss liked my work and social skills (atleast i think so) but its very diffiicult to raise your salary before appraisal.

Things i did here was grab an oppotunity outside,and then show my offer letter to my Boss.My boss doesn't want me to leave his team as i was valuable resource to him.And though he didn't me salary raise at that time but he promised me(and announced in front of whole team) that i will be promoted for my good work in next financial year.By default, i also get salary hike because of promotion.

(3) Every organization or its HR team already decide in advance how much package or salary range needs to provide up to this grade candidate who appeared for interview.So, manager cannot go further and decide new salary band for candidate.So yes,manager providing salary band quite normal,atleast there is no confusion remain in mind of candidate.

(4) Advantage and disadvantage of using salary bands.

Advantage: a)When Managment knows their salary range,things are easy to communicate to candidate.

b)If a certain amount of salary range allocate for certain grade emloyess,then everyone's getting equal pay.Everyone in team in a same page and hence its enhanced harmony with in the organization.

c)It also eliminate pay related anxiety in emloyess,they know what they are getting.

Disadvantage:(a)Salary band need to evaluate on yearly basis.

(b)HR person always need to follow maket pay rate.

Rahul Sunny answered 1 year ago

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Labor costs are often one of the most significant portions of a company's cost structure. Employers...

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