(Answered) Assignmenttwo important factors in determining pay for any

Management Studies

Assignment

Two important factors in determining pay for any given position are the position's pay in relation to the marketplace (external equity) and the position's pay relative to others within the organization (internal equity).

• Evaluate potential pros and cons of using either external or internal equity but not the other.

• Assess how the Equal Pay Act (EPA) of 1963 and the Lilly Ledbetter Fair Pay Act of 2009 might impact the use of external and internal equity to determine pay.

• What action steps should HRM consider?

• Must be at least 900 words in APA format and cite all sources.

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