Domestic companies use a variety of compensation methods, including several factors associated with pay methods, job types, duties, and performance. Please respond to the following:
Describe the differences among the five pay methods listed; what is the general purpose for each: Base Pay, Pay Adjustments, Differential Pay, Incentive Pay, Special Pay Situations.
Select three of the pay types and provide a short scenario that describes how to use each of them appropriately.
Reflect on your current or past employment. Was the pay structure appropriate or would you suggest a change?
What change would you recommend and why?
If no change is suggested, discuss the factors you might consider, to affirm the current pay method.
understanding and describing the differences among various pay methods used by domestic companies, providing scenarios for three of these pay types, and reflecting on the appropriateness of the pay structure in one’s current or past employment.
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