Reasons to Adopt Person-Focused Pay Programs
3 Name and explain the reasons companies adopt person-focused pay programs.
Person-focused pay programs represent important innovations in the compensation field. Person-focused pay systems imply that employees must move away from viewing pay as an entitlement. Instead, these systems treat compensation as a reward earned for acquiring and implementing job-relevant knowledge and skills. Advocates of person-focused pay programs offer two key reasons that firms seeking competitive advantage should adopt this form of compensation: technological innovation and increased global competition.9
Technological Innovation
In an age of technological innovation in which robots, telecommunications, artificial intelligence, ...
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