Define performance management and performance appraisal.
Answer to relevant QuestionsDefine each of the following terms: • Compensation: • Direct financial compensation: • Indirect financial compensation (benefits): • Nonfinancial compensation: Describe each of the following: • Golden parachute contract: • Clawback contract provision: Describe the Hay guide chart-profile method of job evaluation. Why have some firms gone to voluntary benefits as opposed to discretionary benefits? What are the mandated or legally required benefits? Briefly describe each.
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