What is Internal Alignment Of Pay Structure?
Components of Internal alignment of pay structure
There are three components of the compensation and benefit management. They are-
a) Job analysis
b) Pay structures
c) Salary survey
After the job analysis is done organizations then switch over to the pay structure to decide pay for the specific job. The pay structure process both involves the internal and external analysis to decide what should be the compensation for a specific position. There are three types of the pay structures- Internal equity, external equity and individual equity which plays a major role in determining the pay structure. More on Internal alignment of pay structure are covered by our experts in detail in the Homework help or Assignment help, Compensation and Benefit-Job Analysis at Transtutors.com
Need of Internal Alignment Of pay structure
Internal alignment mostly throws the light on the internal relationships of the organizations which form a pay structure. The next question which arises is what the need of pay structure is-
i) It supports the strategy of organization.
ii) To maintain the working culture.
iii) Motivating the employee to achieves the objectives set out by the organization.
It refers to the pay structure according to the jobs level and hierarchical positions in the organization. This is very important to any of the organization as it strikes a balance between the various seniors and juniors pay scale so that there will be good working culture and integrity can be maintained. It determines the pay structure on various grounds such as the job ranking, classification, toughness of stress, management levels etc.All these points are taken care of by the experts providing Management homework help and assignment help at Transtutors.com.
Internal equity helps in providing the service and goods to the customer in turn maintaining the work flow. It also motivates the employee’s behavior by giving them fair pay structures.
Levels of Internal alignment of pay structure
There are various levels in the internal alignment pay structures, which is hierarchical in nature.
It is based upon mainly two things –
a) Number of levels present in an organization
b) What is the relationship with that level with the work?
For example if we are taking an organization dealing with electrical in plastic form then we do have many levels of workers or employers starting from executives, directors, managers, technical persons and other professionals. They deals with different levels of work and they are paid according to that.More on Internal alignment of pay structure are covered by our experts in detail in the Homework help or Assignment help, Compensation and Benefit-Job Analysis at Transtutors.com
The pay scale differences are mostly designed by taking the following factors into consideration-
a) Skills of the employer
b) Working conditions i.e. those who work at risky conditions are paid more.
c) And what return company is getting from them that are value addition.
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So the internal alignment is very necessary as it motivates the employees to achieve the objectives set out by the company also it looks into various aspect of the job that is how it is get done , and how it is contributing to achieve the objectives of the company
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