It Is a Good Idea to Pretest a Compensation Plan

question 9

True/False

It is a good idea to pretest a compensation plan and introduce it to the sales force before the plan is installed on a permanent basis.

Understand the structure and authority of regulatory bodies in the legal profession.

Recognize the features that distinguish professions, particularly law, from other occupations.

Understand the concept and implications of self-regulation among professions.

Identify the educational and licensing requirements for lawyers.

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Definitions:

Employment Transitions

Describes the process of changing from one job or career to another, which may involve retraining, relocation, or adjustment to a new work culture.

Talent Pool

A database or list of potential candidates that an organization can draw from when filling positions.

Succession Planning

The strategy of identifying and developing internal personnel with the potential to fill key business leadership positions in the organization.

Replacement Planning

A part of succession planning focused on identifying and preparing suitable employees to replace key positions within an organization.