One of the First Steps in Developing a Compensation Plan

question 92

True/False

One of the first steps in developing a compensation plan is to determine your organization's salary philosophy.

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Definitions:

Zero Population Growth

No growth in population size.

Births Equals Deaths

A demographic state where the number of births in a population is equal to the number of deaths, resulting in zero population growth.

Demographic Transition

The transition from high birth and death rates to lower birth and death rates as a country or region develops from a pre-industrial to an industrialized economic system.

Education

The process of facilitating learning, or the acquisition of knowledge, skills, values, beliefs, and habits through various methods such as teaching, training, storytelling, discussion, and directed research.