Describe what are the benefits and drawbacks of time based pay plans ?
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Q: Explain what are the key pros and cons of time based pay plans?
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Describe what are the benefits and drawbacks of time based pay plans ?
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- Explain what are the key pros and cons of time based pay plans?describe three considerations in developing a pay system. Which is the best?Compare and contrast the advantages and disadvantages of pay-for-performance and competency-based pay. What strategy would you recommend for your organization, and why?
- What types of occupations may be more suitable for person-focused pay? Or, explain a job that may not be suitable forDiscuss with the business 3 job evaluation methods utilized to determine compensation strategy. Include advantages and disadvantages of each method.What are employee benefits? Explain how they are a major part of the compensation package. Review a current compensation package and determine if it is adequate and fair given the tasks needed in the job.