What is compensation? How is compensation used? What is the purpose and importance of compensation?

Principles of Management
OER 2019th Edition
ISBN:9780998625768
Author:OpenStax
Publisher:OpenStax
Chapter11: Human Resource Management
Section11.4: Influencing Employee Performance And Motivation
Problem 2CC: What is the first step in defining an organizations pay-for-performance strategy?
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What is compensation? How is compensation used? What is the purpose and importance of compensation?
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