Question: Question 21 (5 points) As a Human Resources Manager, you need to create a competitive pay policy for your company to achieve several objectives. Those

Question 21 (5 points) As a Human Resources

Question 21 (5 points) As a Human Resources Manager, you need to create a competitive pay policy for your company to achieve several objectives. Those objectives are to: 1. adjust internal pay levels to changing competitor pay rates. 2. set the internal mix of pay types relative to those paid by competitors. 3. estimate the labour costs of product market competitors. Describe four (4) steps you will take to create a systematic process and collect relevant information to achieve the above objectives. (5 marks) A

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