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Define and explain fully, the concept of "Compensation," indicate what the components of a compensation management system are, and critically suggest what effective compensation policies are required by management to enhance the competitiveness of the organization.
ASSESSMENT DETAILS
(a)Definition/Explanation of compensation.
(b)Meaning of compensation management
(c)Components of a compensation management system
(d)Effective compensation policies: Discussion
(e)Suggestion of policy ingredients for competitiveness
This responsibility is governed by legislation that describes the expected standards for health and safety in the workplace.
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