I need an explanation for this Business question to help me study.
Use the first chapter of the Milkovich book as a source of information for addressing these questions. Be sure, however, to add your own thoughts and ideas as well.
- Explain with examples the “total returns” people receive from work.
- Compensation for many people is an inherently personal and emotional issue. Express your opinion and give an example of how “taking compensation personally,” can play-out on the job.
- Explain the key elements of The Pay Model and how it can be used to develop an organization’s pay strategy.
- Can pay systems be effectively tailored to support differing business strategies? Explain your answer and give an example.