Paper Problem: Market Competitiveness
Compose 3 to 5 page paper.
1) Evaluate the concept of market competitiveness in relation to an organization's pay system, particularly when it is unable to offer its employees market competitive salaries due to a lack of financial resources.
2) Propose at least three alternative approaches for organizations which have limited financial resources.
3) Identify at least three specific steps that could be taken to minimize the impact implementing these alternative approaches could have on the firm's success. Justify why these steps would be the most appropriate in this situation.
Textbook: Martocchio, J.J. (2017). Strategic compensation: A human resource management approach (9th ed.). Pearson.
The response must include a reference list. One-inch margins, double-space, Using Times New Roman 12 pnt font and APA style of writing and citations.