5HR03 AC 2.1 Explain the differences between types of grade and pay structures. *Approx 450 words Pay and benefit distribution can be effectively determined by grade and pay systems. A comparison of pay grades and pay structures is shown in the table below. Pay Structure Pay Grade Definition Overarching framework that dictates employee compensation, outlining […]

Assess the Business Context of the Reward Environment. (5hr03 ac 2.1) The business context of the reward environment is a multifaceted domain influenced by various internal and external factors that collectively determine how organizations structure their compensation and benefits. Internal Factors: Psychological Contract: This refers to the unwritten set of expectations between the employer and employees. […]