Compensation Systems, business and finance assignment help

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Business Finance

Description

  • Analyze the compensation professional’s goals to determine which would be the most difficult for you to realize. Discuss ways you might be able to overcome these difficulties.
  • Create a list of five best practices that any organization could use to leverage a compensation system for positive impact. Provide specific examples to support your response.

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Explanation & Answer

Attached.

Running head: COMPENSATION SYSTEMS

Compensation systems
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COMPENSATION SYSTEMS

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Any organization will always purpose to attain its compensation professional’s goals
which they have put in place to ensure smooth running of the operations. The three critical
compensation professional’s goals which organizations aim to achieve include recognition of
individual contributions, market competitiveness and internal consistency. Among the three
goals, the most difficult to attain and implement is market competitiveness.
The rationale for the difficulty in attaining Market competitiveness alludes to the fact
that an organization might have no control or in some instances have minimal control over
the market structure. It all depends on the organizations ‘share i...


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