Each technique used to develop an internal pay structure has advantages and disadvantages. In recent years there has been a lively debate over the efficacy of skill-based pay structures. Employees seem to embrace the concept, but several significant implementations have ended with the plans being discontinued. Using the text as a base and then seeking out other sources on skill-based pay, perhaps your own experiences as well, present your observations.
Newman, Jerry; Milkovich, George; Gerhart, Barry (2013). Compensation, 11th edition. McGraw-Hill Higher Education
Chapter 6 presents advantages and disadvantages of knowledge or skill-based pay. Respond to the following:
After reviewing both the advantages and disadvantages, which do you find more compelling and why?
should be at least 500 words.