Internal equity and external competitiveness are two of the core elements of effective compensation plans

Management Jun 11, 2021

Internal equity and external competitiveness are two of the core elements of effective compensation plans. If you are employed, ask your HRM department what steps are taken by them to ensure internally that compensation is assigned in an equitable manner and externally, the compensation for benchmark positions are competitive. If you are not employed, you may either seek the answers from an organization of your choice or research the needed steps and describe the needed steps.