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Milkovich, George T., Newman, J. M., & Gerhart, B. (2014). Compensation (11th ed.). New York, NY:
McGrawHill.
Chapter 7 - Defining Competitiveness
Chapter 8 - Designing Pay Levels, Mix, and Pay Structures
Read the appropriate chapters from our class textbook.
Briefly answer the following questions on or before Sunday 11:59 pm:
Note: If you are not with an organization at present, use this as an opportunity to gather informations from
another person about these questions or conduct your own research on-line about a specific
organization.
With whom does your organization compete in terms of compensation and benefits?
What is your company’s competitive pay strategy? Do they attempt to pay more, the same or less than the
competitive average in your area and why?
What is your company’s policy regarding communications of salary grades and ranges? Why do they do
what they do?
Explain the difference between salary ranges and salary bands.
Sample Solution