Explain the factors affecting compensation on firm’s financial conditions, workers productivity and cost of living
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- What is the theory of cost allocation in relation to workers compensation?What is workers' compensation? Who does the work compensation apply to?How can a business maintain a stable workforce and avoid skilled workersleaving the company? Please explain your answer by giving your opinions on;a) Compensation b) Trainingc) Motivation
- what are the benefits of effective employee compensation strategy in the workplace ?Discuss the significance of employee benefits a part of employee compensation?Discuss with the business 3 job evaluation methods utilized to determine compensation strategy. Include advantages and disadvantages of each method.
- Distinguish between loss prevention and loss mitigation in the workers compensation area and provide an example of a specific strategy associated with each.critically analyze and discuss the myriad factors that frequently shape an organization's compensation decisions, considering both internal and external influences."Analyze and discuss the myriad factors that frequently shape an organization's compensation decisions, considering both internal and external influences."