Problem: As an employee you know that pay rates are affected by many factors. For this discussion review the 13 factors listed below. Then choose only 3 of the 13 factors and discuss specific ways in which each might influence pay. (Outside sources with references can be used)
Pay factors:
1. Knowledge and skills required
2. Kind of business
3. Union-nonunion
4. Capital vs labor intensive
5. Size of business
6. Philosophy of management
7. Total compensation package
8. Geographic location
9. Supply and demand
10. Profitability of the firm
11. Employment stability
12. Gender differences
13. Employee tenure and performance