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Salary Trends: Compensation Practices

Visit the Web site Click on "salary trends" and then prepare a brief report on the latest developments in compensation practice. Answer with 500 words or more.

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The latest development in compensation practice have entailed formalization of compensation programs by organizations. These programs have been updated to include written philosophies, salary structures and active performance management. This has increasingly become the norm throughout different industries in regard to their compensation practices even for small businesses as well. Organizations are incorporating written formal compensation philosophies into their organizational structure because they believe this resonates well for achieving their business objectives as compensation pay represents the single biggest operational cost for businesses.

Organizations are cultivating salary structure design and administration to better manage their compensation practices and ensure that they align ...

Solution Summary

A brief report is constructed on compensation practices and salary trends.