Module 1 Session Long Project
MGT411 - Advanced Topics in Human Resource Management
Dr. Laura Poluka
December 25, 2013
The compensation model differs between each organization aiming towards increasing their consumer market share based on their targeted industry. Let's take a look at the different influences in association with compensation and position equity with the business enterprise. -What factors influence the calculation of base salaries?
The main influence in calculating base salaries is the current market value for the open positions that constitutes a set salary range. For instance, the current need for IT Management and programmers are in greater demand for data entry operators, due to the higher demand for technology that requires knowledge of Java, MySQL, and network knowledge. Thus, the overwhelming factors influencing the calculation of base salaries are as follows: 1. The current market demand for providing the product or service. 2. The required background knowledge and education.
3. The current economic conditions that merit a higher end base salary or median range (Anderson, 2013). -How is the Human Resources department involved in salary determinations? The human resources department is a vital component to creating the job position and base salary through research to outline final salary determination (Arthur, 1995). It is the human resource department's role to facilitating the hiring, selection, and procurement of employees for establishing the very skilled workforce. In doing so, the Human Resource department offers the foundation to securing the right set salary determination based on market value of the designated candidate or established employee. -Do you notice any issues related to perceptions of equity regarding base salaries or how they are determined, particularly? Only issues related to perceptions of equity regarding base salaries are when the current market value and demand presents...
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