Compensation and Benefit Systems: recognize individual contributions

Name: University: Course: Tutor: Date: Compensation and Benefit Systems It has been argued that one best way to motivate employees is to provide them with pay systems that factor in their contributions. It is no doubt that pay structures that is developed based on the contribution of workers helps in attracting and retaining highly motivated employees hence an organization gains competitive advantage. It is worth to note that these is not the only way of motivating workers as other methods as job security, favorable work environment among others can platy a vital roles in accomplishing the same. Pay structures refers to the way in which organization determine certain rates for a given job in most cases based on the nature of the jobs being done, the contents and requirements (Martocchio 221). According to Martocchio 263, there are five steps followed in coming up with a pay structure that suit employees. These include deciding how many pay structures are o be constructed, determining a market pay line, definin...