Question: Developing a competitive pay plan is important to ensure talent retention and improve employees' morale. This is why one of the first steps taken by

Developing a competitive pay plan is important to

Developing a competitive pay plan is important to ensure talent retention and improve employees' morale. This is why one of the first steps taken by former IBM CEO. Louis Gerstner, Jr. when he took over the company, is to revise IBM's compensation system including its pay plan. (a) Propose FIVE (5) basic steps in establishing pay rates using Accounting Manager position as an example. (b) Elaborate TWO (2) critical information that can be derived from Salary Survey using the same example as in Q2(2)

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