Describe two principle pay structures companies use in us

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Reference no: EM133355516

Assignment:

Background

This course project is an individual assignment. You will be preparing a compensation plan for a start-up boutique hotel chain preparing to launch in five locations across the country. These new hotels are currently under construction in Manhattan, Chicago, Miami, Houston, and Los Angeles, and are expected to open in about 5 months. The hotels are small, 50 to 100 rooms depending on the city, and luxurious. The hotels will appeal to a select clientele. The marketing approach taken by the hotels is being defined and is not part of this assignment. The CEO of your new organization believes in a very collaborative approach to management. They also believe that everyone in the organization should be working on stretch assignments. Your task force is the first to receive this stretch assignment, which is the Course Project.

Questions

1. The textbook, describes the two principle pay structures companies use in the US: broadbanding and two-tier pay structures.

2. Briefly summarize the PROS and CONS of each one. As you are considering your own approach for your final paper, which do you think might be best suited for a new hotel chain? Explain your rationale.

Reference no: EM133355516

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