Compensation, Benefits, Stakeholders for Businesses

1. List and explain the differences between discretionary and legally required (mandated) benefits. Why do companies need to provide both to employees?

2. List and explain the five different stakeholders of a company's compensation system.

3. Why is strategic compensation important for the long-term success of a company? Provide detailed steps that company should take to create a long-term strategic compensation plan.

Course Textbook
Martocchio, J.J. (2013). Strategic compensation: A human resource management approach (7th ed.). Upper Saddle River, NJ: Prentice Hall.

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