FINC 4534-NOTES 3 - NOTES"Best Practices Versus"Best Fit A...

Info icon This preview shows pages 1–2. Sign up to view the full content.

NOTES “Best Practices” Versus “Best Fit”? A. Premise of strategic fit perspective (best fit) – If the design of the pay system reflects the organization’s strategy and values, is responsive to employees and union relations, and is globally competitive, the organization is more likely to achieve competitive advantage. The better the fit, the greater the competitive advantage. B. Assumptions of best practices perspective – (1) a set of best-pay practices exists and (2) these practices can be applied universally across all situations. Based on these assumptions, several potential outcomes exist: A.1. Using best practices results in better performance with almost any business strategy. A.2. Adopting best-pay practices allows an employer to gain preferential access to superior employees. These superior employees will in turn be the organization’s source of competitive advantage. The challenge with this perspective is to select from various recommended lists which are “the” best practices
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

Image of page 2
This is the end of the preview. Sign up to access the rest of the document.
  • Spring '13
  • Eastman
  • Management, best practices, Competitiveness, internal pay differences

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern