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Compensation and Benefit Systems: Strategic Compensation (Coursework Sample)

Read 7&8 Discuss the steps involved in building internally consistent compensation systems. The book-“Strategic Compensation- a Human Resource Management Approach” 5th edition By. Joseph Martocchio source..
Strategic compensation
The stages involved in strategic compensation involve a market- competitive compensation system that analyses the market-competitive pay system. It is a company‘s compensation policy that reviews the components of compensation and the choices available in reviewing policies and practices for employing and retaining workers. Compensation related to performance. It has implications on the attitudes and behavior particularly when employees understand the pay and benefit options that applies to them.
The stages involved in strategic compensation involve making a company to fit imperatives of competitive advantage. Concerning excessive pay levels, it represents undue financial burdens, undermine lowest-cost strategies, and restrict investme...
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