Discuss and explain the concept of Strategic Compensation as a component of human resource systems. Include in your discussion the opinions expressed regarding strategic analysis and contextual factors.
Strategic compensation means compensation practices such as increments, and incentives being aligned with the achievement of the firm's strategic business objectives. In practice this means increments and incentives are given according to an annual evaluation. The evaluation has criteria that are related to strategic business objectives. For example, if the strategic objective of a business is to increase its market share by ...
This posting gives you a step-by-step explanation of compensation management. The response also contains the sources used.