Summary BUS FPX3040 Assessment4 1.docx Running head: COMPENSATION AND BENEFITS 1 BUS-FP3040 Compensation and Benefits Capella University Pay or Salary When hiring new employees, base pay o

BUS FPX3040 Assessment4 Running head: COMPENSATION AND BENEFITS 1 BUS-FP3040 Compensation and Benefits Capella University Pay or Salary When hiring new employees, base pay or salary can be a determining factor in whether a potential new hire accepts a position or declines. There are many aspects for an organization to consider when creating a pay scale for its positions. Those factors include: ï‚·Positioning €“ an organization needs to determine where they stand in comparison to the competition. Do they match the competitions pay rate? Or do they exceed the pay rate? These are all questions to consider when figuring out where a pay scale lands in the economy. ï‚· Compensation model €“ if an organization offers monetary incentives based on organizational or individual goals this may affect the pay scale as well. The pay rate may be