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What is Overview of Compensation Strategies about?

This document provides an overview of compensation, including: 1) It describes the different types of compensation including direct such as wages and salaries, and indirect such as insurance and vacation. 2) The objectives of an effective compensation system are to provide pay that is adequate, equitable, balanced, cost effective, and provides incentives while being acceptable to employees. 3) Compensation is influenced by external factors like the labor market, economy, unions, and government regulati

Author

Parkbyun Hana

Language

EN