Asked by Tessa Eddington on May 17, 2024
Verified
Which of the following would be the best choice for a compensation system?
A) A competitive base pay and incentives are offered.
B) Employees share in the organization's profits.
C) Compensation is linked to knowledge.
D) The system is cost effective and achieves company goals.
Compensation System
A framework used by organizations to plan, implement, and manage how employees are paid for their work, including salaries, bonuses, and benefits.
Base Pay
The initial rate of compensation an employee receives before any bonuses, benefits, or additional pay is added.
Incentives
Motivations or rewards offered to encourage specific behaviors or actions in individuals or groups.
- Identify the characteristics of effective compensation systems and their alignment with organizational goals.
Verified Answer
Learning Objectives
- Identify the characteristics of effective compensation systems and their alignment with organizational goals.
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