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The Objective of Compensation Practices Is to Help the Organization

question 47

True/False

The objective of compensation practices is to help the organization establish and maintain a competent and loyal workforce at any cost.


Definitions:

Geographical Regions

Large areas of land distinguished by geographical features, political boundaries, or cultural characteristics.

Psychical Regions

A concept in psychology referring to different areas or aspects of the mind and its functions.

Cultural Regions

Geographically distinct areas characterized by a unique set of cultural practices, beliefs, languages, and social norms.

Capitalism

An economic system characterized by private or corporate ownership of capital goods, investments determined by private decision, and prices, production, and distribution of goods determined mainly by competition in a free market.

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