Objectives List and describe the basic factors in determining direct financial compensation. (3.1) Theory and Context Many companies struggle with how to determine the correct financial compensation for their employees. At its most basic level, compensation needs to be equitable to comparable salaries in the market, and comparative between similar positions within the organization. Resources Strategic-Human-Resource.com (2008-2017). Motivate your people be implementing compensation strategy. Retrieved from http://www.strategic-human- resource.com/compensation-strategy.html REFERENCE SHOULD BE THE RESOURCES LINK LISTED ABOVE 1. Read the article, Compensation Strategy; A Tool to Motivate your People above. 2. Starting with the basic premise of market and organizational equity, what HR factors would you take into consideration when designing a pay structure? a. Identify 2-3 key strategic objectives you would want to accomplish with the pay structure.
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