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Which method involves using a "what if" scenario to determine which compensation-level strategy is most efficient for your organization?
A) cost-benefit analysis
B) market share analysis
C) trial analysis
D) utility analysis
Compensation-Level Strategy
A plan that outlines the principles and standards for setting salaries, wages, and other benefits to attract and retain talent.
Utility Analysis
A technique used in HR to assess the financial impact of different human resource practices, such as training and selection, on organizational performance.
"What If" Scenario
A hypothetical situation used for planning, problem-solving, or strategic thinking, exploring outcomes of different decisions.
- Acquire knowledge of the methodologies and critical considerations required in creating a successful compensation strategy, with emphasis on legal, financial, and strategic elements.
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Learning Objectives
- Acquire knowledge of the methodologies and critical considerations required in creating a successful compensation strategy, with emphasis on legal, financial, and strategic elements.
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