Define the concept of a compensation philosophy, including the components that should be addressed in a compensation philosophy. Assess why a compensation philosophy is so foreign to most organizations and how you can best encourage an organization to create its own compensation philosophy that is beneficial to attracting the best talent.

Principles of Management
OER 2019th Edition
ISBN:9780998625768
Author:OpenStax
Publisher:OpenStax
Chapter11: Human Resource Management
Section11.4: Influencing Employee Performance And Motivation
Problem 2CC: What is the first step in defining an organizations pay-for-performance strategy?
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Define the concept of a compensation philosophy, including the components that should be addressed in a compensation philosophy. Assess why a compensation philosophy is so foreign to most organizations and how you can best encourage an organization to create its own compensation philosophy that is beneficial to attracting the best talent.

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