Your assignment is to write a short paper (500–750 words) defining compensation, compensation philosophy, and critical components of a compensation strategy. Provide one solid example of an effective compensation practice/policy. Your paper will be graded on the following:
- definition of compensation;
- overview of compensation philosophy;
- critical components of a compensation strategy; and
- example of an effective compensation practice/policy.
Your paper must be prepared utilizing the APA format and should include external, academic-quality references.
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