JVA Corporation Simulation Assignment Example | Topics and Well Written Essays - 750 words

JVA Corporation Simulation - assigning ExampleAdditionally, a communications and consultation plan needs to be put in place, so that employees understand the reason for these changes and expect them as an alternative to redundancies, which would be a far worse pick because they fail to take into account the future of the workers (Rue & Lloyd, 2009). Internal equity is when the job military rating determines the internal observe of the job. The point factor job evaluation is the quantifiable process explaining the reasons for pay differences and classifications. The point factor jobs evaluation determines the internal value of jobs by placing them in a hierarchy of grades based on compensable factors. remunerative factors include experience, education, technical skills, and working conditions (Rue & Lloyd, 2009). This approach is to be retained, with no major changes proposed to core salary levels. This pass on reassure workers. External equity is the second principle in compens ation and it compares the salaries and benefits of the JVA Corporation employees to other workers in the same industry. In order to be competitive, the JVA Corporation must conduct a survey to see if the salaries/additional compensation perks are similar in other agencies. The jobs in other companies dealing in wireless technology devices are benchmarked because they include bonuses, travel rewards, commissions, profit sharing, and duties in a broad assert of jobs. External equity can help managers make strategic decisions regarding the companys compensation programs (Flannery, 2011).