As such one must be very aware of the causes of inequity but also be much attuned to the relationships, internal and external, that promote concerns. A strong compensation program, driven by a philosophy of justice and equity, can define and placate problems before they occur.
Equity: Internal and External
As an HR professional, it is important to thoroughly understand the concept of internal and external equity in terms of pay and benefits. For example, you will need to understand how to answer the following questions. How is the concept of internal and external equity similar or different in discussing pay versus benefits? In the struggle to recruit and retain productive and motivated staff members, is it better to design and promote a compensation and benefit program that focuses on external market competitiveness or that is structured to promote internal equity? How does one articulate the concept of just and equitable within a compensation structure?
Main Task: Analyze Issues of Internal and External Equity
Write a paper analyzing the concepts of internal and external equity and apply these concepts to an examination of pay versus benefits in organizations. Include in the analysis, a comparison of the advantages and disadvantages in designing compensation and benefit programs that focus on external market competitiveness or that are structured to promote internal equity. Support your analysis based on current research incorporating three journal articles or publications into your response.
Support your paper with minimum of five (5) scholarly resources. In addition to these specified resources, other appropriate scholarly resources, including older articles, may be included.
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