BUS434 Wk 2 dis 1

A basic premise of a market-based economy is that each individual has the opportunity – through education, experience, hard, work, etc. – to improve his or her job earning potential. As a result, some employees may enjoy greater earnings than their colleagues. Assess how an organization can create a fair, market-competitive compensation system that provides greater rewards for those who earn it, yet is viewed as fair and equitable by the organization. Respond to at least two of your classmates' postings.

 

 

A good example of a fair, market-competitive compensation is that of the Federal government. A pay scale is use to compensate employees based on qualifications, knowledge, skills, and Abilities. I believe this system to be fair, because although everyone’s background is different, all are given the opportunity to apply and prove that they are capable of doing the job.
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