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Meet the market pay rate

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"Meet the market pay rate" NOTE:NOT REFERENCE: policy is the best reward policy to ensure low staff turnover.

As an experienced compensation and benefits manager, will you exercise the above policy using upper quartile pay range for all levels of workforce in all different business units in an organization? Support the answer with an example of a specific job scope that has influence from labour market factors and organization factors. Justify your answer with any one of the following theoretical perspectives: Efficiency wage theory, Human capital theory.

Is it strategically fit to adopt "meet the market pay rate policy" without aligning the skilled professional's performance appraisal rating? Justify your argument with the issue of tying pay to subjectively appraised performance.

Kindly provide your answers in an essay format

Please do provide answers in point formsCite any reference used for your answers

Gerhart, B., & Newman, J. M. (2020). Compensation (13th ed.). McGraw-Hill.

Reference no: EM133044811

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