Question: Considerations in Base Pay By completing this lesson on Total Rewards you will be able to: Explain the strategic importance of total rewards. Define pay

Considerations in Base Pay By completing this lesson on Total Rewards you will be able to: Explain the strategic importance of total rewards. Define pay equity and explain its importance today, Explain in detail each of the three stages in establishing pay rates. Discuss competency-based pay. Explain under what conditions it is best to use an incentive plan. - Compare the three types of organization-wide incentive plans. Do you think that of the four considerations in determining pay rate, one is more important that the others? If so, which one? if not why not? Make sure to explain your thinking

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