Discuss the factors that influence internal pay structures.

Expert Solution

The factor that influence the Internal pay structure are as follows:

ABILITY TO PAY- The big organization pay higher compensation to the employee as compared to other organization. Whereas the smaller companies maintain their pay scale or sometime below the company standards.
BUSINESS STRATEGY- The organization strategy also influence the employee compensation. The company pay more to those employees who have special skill which can help the organization to outshine the competitor as compare to other employee. Whereas, if the company wants to go as it is going then the company pay every employee equally.

JOB EVALUATION AND PERFORMANCE APPRAISAL- The job evaluation helps the company to pay as per their jobs. The Performance Appraisal helps an employee to earn extra on basis of his performance.

EMPLOYEE- The employee himself influence the compensation in one of the following ways:

Performance- The pay of the employee depends upon the better performance. This help the employee to increase compensation, they also get motivated and helps to perform the job effectively.
Experience- The pay also depends upon the employee devotion his year in an organization for his experience.
Potential- The company pay extra to those employees who have extra potential as compared to other employee.

keosha answered 2 years ago

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