Suppose a country is experiencing a deflation while real GDP is below potential GDP.
Definitions:
Strategic Compensation
The design and implementation of compensation systems to align employee rewards with the organization's strategic objectives.
Business Objectives
Goals and targets that a business aims to achieve in a set period.
Compensation Systems
Structured plans implemented by businesses to reward and provide financial benefits to employees for their work and performance.
Broadbanding
A method of salary structure that consolidates a large number of pay grades into fewer broad bands to provide greater flexibility in employee movement and compensation.
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