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Compensation. Establishing a pay structure - Coggle Diagram
Compensation. Establishing a pay structure
Decisions about pay
Pay structure
Pay level
Job structure
Issues in developing a pay structure
Market forces
Product market
Labour market
Economic forces influence on
Pay level
Benchmarking
Industry-specific data
Surveys of job classifications
Legal requirements for pay
Minimum wage
Overtime wage
Equal pay for equal job
Child labor
Employee judgments about pay fairness
Under-rewarded
Less effort
Increase outcomes
Withdrawing
Communicating fairness
Equity
External equity
Internal equity
Job structure: relative value of jobs
Compensable factors
Complexity
Working conditions
Education
Responsibility
Experience
Key jobs
Job evaluation
Pay structure: putting it all together
Piecework wage
Salary
Hourly wage
Pay grades
Pay rates
Pay rangers
Pay policy line
Pay differentials
Alternatives to job-based pay
Delayering
Skill-based pay sysems
Pay structure and actual pay
Compa-ratio