Question

What is the order in which the three separate management decisions should be completed for HRM managers that design effective compensation systems?

Answer 1

Answer:

Wage level, wage structure, and individual wages

Explanation:

Human Resources management are the activities that are involved in acquiring, maintaining and developing a company's human resources.

For HRM manager to effectively design compensation system, they must take into consideration wage level, wage structure, and individual wages.

Wage level is the position of wages in a job position at a certain time in a particular industry or trade or occupation.

Wage structure is the way the wages of worker is composed with respect to position or hierarchy. it includes basic wage, bonuses, etc.

Individual wage is the pay of an individual in a certain occupation with respect to his educational qualification, experience, length of stay in the occupation or organization.

Cheers.