Question: 3. Explain and contrast job-based compensation structures including point-based job evaluation and market-pay to determining employee compensation. Now, contrast this with person- based compensation that

3. Explain and contrast job-based compensation

3. Explain and contrast job-based compensation structures including point-based job evaluation and market-pay to determining employee compensation. Now, contrast this with person- based compensation that is linked to an employee's knowledge, skills, and competencies. Is there a gold standard or does the best approach depend on your organization's operations, industry, and pay strategy? Why/Why not? PLEASE PROVIDE AS MUCH DETAILS AS POSSIBLE EVERY QUESTION MUST FILL OUT A PAGE (1 PAGE ONLY)

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