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In designig a compensation system, companies need to choose which of the three essential components to include in their compensation mix. A compensation system can include one, two or all three of these essential components of the compensation mix.
a. List those essential components, part of the compensation mix.
b. Explain the essential element of the compensation mix that is not based on results achieve by outlining its types, main characteristics, one advantage and one disadvantage.
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You are an HR specialist working for a large manufacturing company. In your role, you are in charge of the design and operation of Training & Management
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