Describe various components in a compensation philosophy


Problem 1: Consider the various components in a compensation philosophy.

Problem 2: Identify at least one practice within a compensation philosophy.

Problem 3: Discuss the benefits of the selected practice as well as possible limitations or drawbacks that can occur if not aligned with an organization's business strategy.

Problem 4: Discuss pros and cons of pay transparency.

Problem 5: Discuss why you would select either a base pay compensation system or a variable pay compensation system, and why your selection would work best for an organization.

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