- 20 Marks
BMIS – Nov 2015 – L1 – Q3 – HR – Other human resources functions
Discuss compensation strategies, characteristics of an effective system, and types of compensation.
Question
The strategy and structure of compensation programs have important implications for businesses and their ability to create and sustain competitive advantage.
a) What is meant by ‘Compensation’? (2 marks)
b) State FOUR characteristics of an effective compensation system. (8 marks)
c) Explain the following:
i. Direct compensation (5 marks)
ii. Indirect compensation (5 marks)
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