Question: 1. Why is compensation important to managers? Explain the two major categories of total rewards. 2. What are the basic building blocks of a pay

1. Why is compensation important to managers? Explain the two major categories of total rewards.

2. What are the basic building blocks of a pay model? Please create a pay model for an organization of your choice.

3. Define competitive advantage and explain how compensation strategy and competitive advantage is interrelated

4. How do internal pay structures influence employees' behaviour ? How do external stakeholders influence an internal pay structure? Please provide example.

5. Please explain what could be the consequences if pay structure of an organization is not internally aligned?

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