What is pay level? What is its impact on an organization?
Pay level is a broad comparative concept that refers to how an organization’s pay
incentives compare, in general, to those of other organizations in the same industry
employing similar kinds of workers. Managers must decide if they want to offer relatively
high wages, average wages, or relatively low wages. High wages help ensure that an
organization is going to be able to recruit, select, and retain high performers, but high
wages also raise costs. Low wages give an organization a cost advantage but may
undermine the organization’s ability to select and recruit high performers and to motivate
current employees to perform at a high level. Either of these situations may lead to inferior
quality or inadequate customer service.
In determining pay levels, managers should take into account their organization’s strategy.
A high pay level may prohibit managers from effectively pursuing a low-cost strategy.
However, a high pay level may be worth the added costs in an organization whose
competitive advantage lies in superior quality and excellent customer service.
AACSB: Analytical Thinking
Blooms: Understand
Difficulty: 2 Medium
Learning Objective: 12-05 Explain the issues managers face in determining levels of pay and benefits.
Topic: Cafeteria-Style Benefit Plan