Good Essay About Advantages Of Salary Or Pay Range

Type of paper: Essay

Topic: Workplace, Salary, Range, Employee, Education, Organization, Job, Human

Pages: 1

Words: 275

Published: 2020/10/18

New WowEssays Premium Database!

Find the biggest directory of over
1 million paper examples!

A salary range or pay structure represents a pay system where the payment rate is based on the educational, experience and expertise requirements for a specific type of job. This salary range includes a minimum and maximum level where an actual salary to be paid by an employee falls somewhere within that range .

Most of the organizations design the salary range in pay structure because pay ranges give an advantage for differentiating between educational, experiential or performance requirements .
Instead of using specific pay levels, salary ranges give the human resources and advantage to make slightly higher payments to incumbents with strong educational and experiential background. Similarly, salary ranges provide another advantage of limiting the labor cost while hiring personnel having limited background.
Additionally, when a salary range is designed, it helps to receive only the most eligible and fewer applications against the available vacancy. Establishing pay ranges help screen out employees which an organization can afford. If a flat pay level is followed, the human resource managers will receive an enormous quantity of ineligible applications for a specific job .

Drawback of Salary or Pay Range

Salary ranges are established by organizations to value employees having strong background with higher payments. This salary range establishment has the only, but biggest drawback that it may give rise to internal conflicts because personnel executing the same type of jobs are paid differently depending upon the level at which their salary fall within the pre-defined range. Employees with a weak educational background and experience, but high potential, may become discouraged due to which an organization may lose some of the employees with high productivity.

References

Kokemuller, N. (n.d). The Advantages of a Salary Range. Retrieved January 29, 2015, from The Houston Chronicle: http://work.chron.com/advantages-salary-range-6168.html
Noe. (2006). Fundamentals Of Human Resource. Tata McGraw-Hill Education.
Roennevig, M. (n.d). Advantages & Disadvantages of a Salary Rate on a Job Description. Retrieved January 29, 2015, from The Houston Chronicle: http://work.chron.com/advantages-disadvantages-salary-rate-job-description-4770.html

Cite this page
Choose cite format:
  • APA
  • MLA
  • Harvard
  • Vancouver
  • Chicago
  • ASA
  • IEEE
  • AMA
WePapers. (2020, October, 18) Good Essay About Advantages Of Salary Or Pay Range. Retrieved June 22, 2021, from https://www.wepapers.com/samples/good-essay-about-advantages-of-salary-or-pay-range/
"Good Essay About Advantages Of Salary Or Pay Range." WePapers, 18 Oct. 2020, https://www.wepapers.com/samples/good-essay-about-advantages-of-salary-or-pay-range/. Accessed 22 June 2021.
WePapers. 2020. Good Essay About Advantages Of Salary Or Pay Range., viewed June 22 2021, <https://www.wepapers.com/samples/good-essay-about-advantages-of-salary-or-pay-range/>
WePapers. Good Essay About Advantages Of Salary Or Pay Range. [Internet]. October 2020. [Accessed June 22, 2021]. Available from: https://www.wepapers.com/samples/good-essay-about-advantages-of-salary-or-pay-range/
"Good Essay About Advantages Of Salary Or Pay Range." WePapers, Oct 18, 2020. Accessed June 22, 2021. https://www.wepapers.com/samples/good-essay-about-advantages-of-salary-or-pay-range/
WePapers. 2020. "Good Essay About Advantages Of Salary Or Pay Range." Free Essay Examples - WePapers.com. Retrieved June 22, 2021. (https://www.wepapers.com/samples/good-essay-about-advantages-of-salary-or-pay-range/).
"Good Essay About Advantages Of Salary Or Pay Range," Free Essay Examples - WePapers.com, 18-Oct-2020. [Online]. Available: https://www.wepapers.com/samples/good-essay-about-advantages-of-salary-or-pay-range/. [Accessed: 22-Jun-2021].
Good Essay About Advantages Of Salary Or Pay Range. Free Essay Examples - WePapers.com. https://www.wepapers.com/samples/good-essay-about-advantages-of-salary-or-pay-range/. Published Oct 18, 2020. Accessed June 22, 2021.
Copy

Share with friends using:

Please remember that this paper is open-access and other students can use it too.

If you need an original paper created exclusively for you, hire one of our brilliant writers!

GET UNIQUE PAPER
Related Premium Essays
Contact us
Chat now