Which competitive pay policy would you recommend to an employer? Why? Does it depend on circumstances faced by the employer? Which ones?

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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Which competitive pay policy would you recommend to an employer? Why? Does it depend on circumstances faced by the employer? Which ones?

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Compensation Management : 

Compensation management is the type of management practice which deals with designing and implementing a compensation package. In compensation management the manager sees the reward that an individual will receive for his work done for an organization. Compensation can be in the form of cash or any added benefit to the employee in favor of his work done for the organization.

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