Strategic compensation is a component of the human resource system. Organizations must determine the importance of many factors when choosing compensation and benefits. Write a three-to-five page essay (not including the title and reference pages) that summarizes the impact and effect of compensation within an organization. Your paper should be written in a scholarly third-person tone; it should be in APA format. In addition to the introduction and conclusion, your paper should address the following:
- Examine how organizations determine the relative importance of compensable factors.
- Evaluate how compensation strategies tie into underlying corporate values.
- Analyze an example which demonstrates how an organization’s compensation and benefits programs have been utilized to obtain corporate strategic goals.