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According to the Milkovich and Bloom Model of Global Reward

question 26

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According to the Milkovich and Bloom model of global reward system design, the core set of compensation components involves the selection by employees themselves of elements of compensation that they perceive are of greatest value to their individual situations.


Definitions:

Relevant

Pertaining to information or factors that are applicable and significant to a specific decision or situation.

Alternatives

Different options or strategies considered in decision-making processes or problem-solving situations.

Sunk Costs

Costs that have already been incurred and cannot be recovered, and therefore should not factor into future decisions.

Decision Making

Selecting a course of action from competing alternatives.

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