Write an article draft analyzing the concepts of internal and external equity and apply these concepts to an examination of pay versus benefits in organizations. Include in the analysis, a comparison of the advantages and disadvantages in designing compensation and benefit programs that focus on external market competitiveness or that are structured to promote internal equity. Support your analysis based on current research incorporating three journal articles or publications into your response.
Support your research with at least five (5) resources in addition to these specified resources, other appropriate scholarly resources, including older articles, may be included.
Use current APA standards.
Length: 6-7 pages
Analyze Issues of Internal and External Equity
Write an article draft analyzing the concepts of internal and external equity and apply these concepts to an examination of pay versus benefits in organizations.
The concepts of internal and external equity in regard to employee pay and benefits within organizations is predicated upon whether compensation packages are fair for employees. The organization’s pay structure will be impacted by internal and external forces that impact equity, but the objective of the organization is to ensure that all parties within the organization are paid in accordance to these internal and external factors. Although the conceptual framework of equity may appear simplistic in which it is based upon ensuring that compensation is fair and just within an organization, there are actually many different contexts that equity may fall under.
Some of the conceptual frameworks that focus on equity include legal frameworks that ensure that equal pay occurs for similar work wherein a comparable worth model is used, market pressures that cause external competition and impact equity in pay, fairness associated with individual wage rates that exist for employees in the same job position with similar job duties, ………..