Iscuss How 3 out of the 13 pay factors influence pay

As an employee pay rates are affected by many factors. For this assignment you will review the 13 factors which are described in pp. 27-33 of your text and listed below. Then choose 3 of the 13 factors and discuss specific ways in which each might influence pay. Present your assignment in three parts with a separate section for each factor, minimum 250 words/section.

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

This is the textbook for the course we are using:
Henderson, Richard I. Compensation Management in a Knowledge-Based World, (Prentice-Hall).

The three factors that should be discuss in specific ways in which each might influence pay are:
1. Knowledge and skills required
2. Union vs. non-union
3. Total compensation package

Please let me know if you need further information to complete this assignment.