solved Merit Pay and Seniority PayChapter 3 discusses types of traditional

Merit Pay and Seniority PayChapter 3 discusses types of traditional pay.Two of these types of compensation are merit pay and seniority pay.While both merit pay and seniority pay are viable alternatives, organizations need to be sure the compensation plan selected fits the business strategy, the business plan, the cost and budget structure of the organization, and serves as the appropriate driver for efficiency and effectiveness from employees.The objective for this discussion –Understand the various types of traditional compensation plans and what situations are the best for merit pay and the best for seniority payUnderstand the various types of performance appraisals used by organizations and which types are appropriate for organizationsDiscussion Assignment Define and explain in your own words the two terms – merit pay and seniority payProvide an example of a type of (what kind of business) organization and what type of jobs would be appropriate for – Merit pay system Seniority pay systemExplain your thoughts on why each type of compensation plan (merit and seniority) would be appropriate for this organization and for these types of jobs.Also provide an example of a type of (what kind of business) organization and what type of jobs would NOT be appropriate for – Merit pay system Seniority systemExplain your thoughts on why each type of compensation plan (merit and seniority) would not be appropriate for this organization and for these types of jobsFinally – Explain how an employee performance appraisal process would be effective in an organization utilizing a seniority based compensation system.Which of the performance appraisal methods listed in the text would be the best to use in an organization utilizing a seniority based compensation system?Research and list at least three outside sourcesWrite using a formal and professional writing styleWrite in a paragraph format. Do not use an outline or bullet point format.Proof your work for spelling, grammar, sentence structure, word choice, etc.After you have posted your discussion provide comments to two other students.In these two responses address the following questions –Compare the student’s examples of organizations and jobs where merit pay and seniority pay would be effective and where these two types of compensation would not be effective.How do your examples differ?How are your examples similar?How does your explanation differ?