Analyze compensation concepts that influence market factors, pay structures

Consider the factors that shape the compensation program of an organization. Address the following areas:

1. Analyze compensation concepts that influence market factors, pay structures, including pay grades and levels, and other internal and external factors that influence these pay decisions.
2. Assess how HRM communicates these concepts of pay structures to employees. Include examples of best practices from the literature among organizations that have been successful in recruiting, motivating, and retaining employees.
3. Describe how these examples of successful strategies support a healthy balance of internal and external factors? Your examples should justify your thoughts.
4. Discuss competitive pay alternatives or considerations. Provide some examples.

Length: 5-7 pages, not including title and reference pages