What base pay should be used at the kraft heinz company

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Reference no: EM133205804

Question: What Base Pay should be used at The Kraft Heinz Company?

Base pay is the foundation pay component for most employees, usually based on some unit of time worked. Base pay can be segmented into pay grades and pay ranges. Base pay is the main component used to attract individuals into an organization. An organization's compensation strategy will be considered as one of three categories in the industry in which it operates, these categories include leading, lagging, or matching the market. There are three ways in which base pay can be calculated; these include:

1. Pay for knowledge
2. Market pricing
3. Job evaluation

The effectiveness of your base pay can be measured through retention, the number of complaints re: compensation, and time it takes to hire for hard to fill vacancies.

Reference no: EM133205804

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