INSTRUCTIONS:
1) Review the following materials:
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a) Place yourself in the position of an individual who is responsible for making the decisions regarding employee compensation and benefits. The company is considering making an offer of employment to an applicant. What factors will you consider in determining the appropriate level of monetary compensation and employee benefits that will be included in the offer? Why?
SAMPLE SOLUTION
Task 1 Introduction to Compensation
An organization’s main asset is its human resource. A considerate compensation package is the proper way to ensure workers wellbeing and performance. Compensation policies should win over skilled job-seekers, inspire excellent employees and gear the institution towards achieving its goals. Compensations are categorized as either direct or indirect (Merhar, 2016). Direct compensation is the monetary payments like salary, commissions, bonus, workstation meals and reimbursing employee incurred expenses. Indirect compensation is the non-monetary benefits like health insurance, disability…
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