Asked by Benjamin Cohen on May 26, 2024
Verified
Which of the following items is a component of the compensation strategy?
A) employee benefits
B) employment security
C) promotion criteria
D) job enrichment
Compensation Strategy
The design and implementation of pay structures and benefits aimed at achieving an organization’s objectives and attracting, motivating, and retaining employees.
Employee Benefits
Various non-wage compensations provided to employees in addition to their normal wages or salaries, such as health insurance, paid vacations, and retirement plans.
Promotion Criteria
The standards and requirements that an employee must meet or exceed to be considered for advancement within an organization.
- Understand the components and importance of a comprehensive compensation strategy.
Verified Answer
B, C, and D may also be important elements of a company's overall human resources strategy, but they are not necessarily related specifically to compensation. Employment security refers to job stability and a sense of job security for employees, while promotion criteria and job enrichment relate more to career development and training opportunities within the organization.
Learning Objectives
- Understand the components and importance of a comprehensive compensation strategy.
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