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Imagine You Are Setting Up a Compensation System for a Fictional

question 56

Essay

Imagine you are setting up a compensation system for a fictional organization.Describe how your compensations system would address the following issues: types of compensation; pay for performance or pay for longevity; skill-based or competency-based pay; at, above, or below market; wage compression; pay secrecy.


Definitions:

Legal

Pertains to the system of rules that a particular country or community recognizes as regulating the actions of its members and may enforce by the imposition of penalties.

White Water Rafting

A recreational outdoor activity which uses an inflatable raft to navigate a river or other body of water with various degrees of rough water.

Surplus

An excess of production or supply over demand, often leading to a decrease in prices.

Unit Cost

The cost incurred by a company to produce, store, and sell one unit of a particular product or service.

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