Discussion BoardUnit: Analyzing Compensation Plans 4

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Business Finance

Description

Primary Discussion Response is due by Friday (11:59:59pm Central), Peer Responses are due by Tuesday (11:59:59pm Central).

The discussion assignment for this week includes a review of the Key Assignment Outline completed by one of your classmates, as well as a substantial response to at least one other student.

Primary Task Response: Your first task is to post your own Key Assignment Outline to the discussion area so that other students are able to review your plan. Attach your document to the main discussion post, and include any notes you feel are appropriate. The purpose of this assignment is to help improve the quality of the Key Assignment you will complete in Phase 5.

Respond to Another Student: Review at least 2 other student's Key Assignment Outline and provide meaningful feedback. Refrain from general feedback, such as simply stating "good job." Your feedback to other students is most helpful if you not only point out weak areas but also offer suggestions for improvement. The best feedback takes a three-stage approach to identify what was done well, weaknesses, and areas for improvement.

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Explanation & Answer

Attached.

Running Head: ANALYZING COMPENSATION PLANS

Analyzing Compensation Plans
Student’s Name
Institution of Affiliation
Course
Date

1

ANALYZING COMPENSATION PLANS

2

Analyzing Compensation Plans
Introduction


Definition of Compensation plans
o It refers to an organized approach that ensures the provision of monetary
value to employees in an interchange of work executed.



Significance of Compensation plans
o Compensation is an essential aspect of the practice of Human Resource
Management that plays a vital role in recruitment and retention of
employees.



Factors Influencing Compensation Plans.
o Compensation plans are largely influenced by market factors which in
most cases are beyond employers’ control (Caruth& Handlogten, 2001)....


Anonymous
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