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Compare internal versus external equity in determining compensation?

Compare internal versus external equity in determining compensation?

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Answer #1

Comparison of internal and external equity

Internal equity determined as the comparison of pay between people in the same organisation whereas external equity determined as comparison of pay between an employee and with those outside of the organisation.

Detail Explanation :

External equity refers to comparison of qualified survey data and this data is collected as possible from the sources. Most companies starts with external data and sometimes external equity is comparison to employee or recruiter provided data.

However, Internal equity is used to ensure that no discrimination is taking place. Also, you can compare your staff internally based on various determinants such as age, gender, experience, tenure etc.

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