This assignment is based on two parts. Part A is focused on what is happening in the market of pay rates and structures. How management decide to pay to their employees and factors affecting the pay systems? Part A is mainly discussed on the factors that affecting to the pay rates in organisations.
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The role of management to deciding the pay structure and the system, they should follow to decide the pay rates. It consists of many illustration and examples in the way of case studies. It includes an overview of the scope in reward management, a description of the factors of pay rates coming in this context. The careful review and analysis are performed on deciding the pay rates, the conclusions are judged with suitable references and examples.
In part B of this assignment, the topic of dismissal is discussed. The types of dismissals procedure and the methods of managing the dismissals in organisations. In this assignment, we discuss the need of the dismissals and how to manage it properly. The is supported with literature reviews and case studies. What is the affect of the dismissals on the employers as well as employees and how society is affected by this? This part will discuss on fair dismissals and the legal aspects of the dismissal process.
Do you think “management freedom of action in deciding relative pay rates is constrained by the product market, the labour market, collective bargaining, technology and the internal labour market ” Discuss and debate. What factors should management consider in your opinion? Substantiate with many examples.
The skills of managers had explained that there are several ways of connecting different types of efforts and rewards relying on what is being occurred and by which method. There are many varieties of pay distribution structure. Payment by outcome plans of different types, system then connect time-related encouragement to achievement criteria group and individual schemes, bonus plans relates to plan outcome. Sometimes payment systems are determined to work in some conditions but not in all. Sometimes, management’s experience with the payment system is not planned in a proper method to show which payments are suitable for which situations, its objectives?
The management indicate to some of the characteristics in choosing proper payment systems such as- product market, labour market, trade unions, technology and the expectations and manners of workplace. There are further factors which also need to be considered by the management while deciding or modifying the pay system. Each factor is present in every situation, but differs in their application depending on the time and situation. The management should organise systematically the payment systems and would require a method of calculating the differences applied in these factors.
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