For this written assignment, consider the factors that shape the compensation program of an organization. Analyze compensation concepts that influence market factors, pay structures including pay grades and levels, and other internal and external factors that influence these pay decisions.
Assess how HRM communicates these concepts of pay structures to employees. Include examples of best practices from the literature among organizations that have been successful in recruiting, motivating, and retaining employees. How do these examples of successful strategies support a healthy balance of internal and external factors? Your examples should justify your thoughts.
Support your paper with a minimum of three (5) scholarly resources. In addition to these specified resources, other appropriate scholarly resources, including older articles, may be included.