Pay structures are developed based on which of the following?
A)Legal requirements
B)Market forces
C)Organization's goals
D)All of the above.
E)"b" and "c" only.

Question

Quizplus · Accepted Answer

Pay structures are developed based on legal requirements, market forces, and the organization's goals. Legal requirements such as minimum wage and overtime laws determine the minimum level of compensation that employers must provide. Market forces such as supply and demand for certain skills impact the pay rates that organizations offer in order to attract and retain talent. The organization's goals and compensation philosophy also influence the pay structure, as it may prioritize internal equity or external competitiveness. Therefore, all of the above factors play a role in shaping pay structures.

Pay Structures Are Developed Based on Which of the Following