various types of person-focused pay plans, business and finance homework help

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Question Description

For this assignment, you will compose an essay of at least two pages in which you discuss the following issues:

various types of person-focused pay plans,

reasons why companies adopt person-focused pay plans, and

advantages and disadvantages of person-focused pay plans.

Tutor Answer

agneta
School: UIUC

Attached.

Running head: PERSON-FOCUSED PAY PLANS

Person-Focused Pay Plans
Institution Affiliation
Date

1

PERSON-FOCUSED PAY PLANS

2

Introduction
The person-focused pay plans are not designed for every company neither are they for
every position in a firm (Shields and Dolle-Samuel, 2015). This kind of program has the notion
that workers are supposed to stop perceiving pay as their right. However, the personnel is
expected to perceive this kind of remuneration program as a prize gained due to possessing the
expertise and knowledge that is important for the duties one is assigned. Therefore, this kind of
pay program has an effect of inspiring the workers to acquire skills that are related to their jobs
and undertake complicated duties.
Types of Person-Focused Pay Plans
There exist four kinds of person-focused pay plans which employers use to remunerate
their workforce. The first kind is the stair-step model which entails the distinct occupations from
a particular job category. In this kind of model, the individual has the ability to elevate their
positions when they attain the required knowledge ...

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