Asked by dulce salgado on Sep 23, 2024
Verified
Total compensation can facilitate-or interfere with-achieving many different strategic objectives.
Total Compensation
The complete reward package a worker receives, including salary, benefits, bonuses, and any other form of pay for services.
Strategic Objectives
Long-term, overarching goals that an organization aims to achieve to implement its vision and mission.
- Identify how market and organizational aspects affect the strategy and design of compensation.
- Ascertain the influence of organizational strategies and policies on compensation outcomes.
Verified Answer
NV
Nicole Vanderbush Parkerabout 6 hours ago
Final Answer :
True
Explanation :
Total compensation can be used to motivate and retain employees, align their behavior with organizational goals, and maintain competitive advantage in the labor market. However, poorly designed or implemented compensation strategies can also lead to negative outcomes such as resentment, turnover, and reduced productivity. Therefore, total compensation can both facilitate or interfere with achieving different strategic objectives.
Learning Objectives
- Identify how market and organizational aspects affect the strategy and design of compensation.
- Ascertain the influence of organizational strategies and policies on compensation outcomes.