Can you help with this HRM activity from the textbook Noe, R., Hollenbeck, J., Gerhart, B., & Wright, P. (2023). Human Resource Management: Gaining a Competitive Advantage (12th or 13^th Ed.). New York, NY: McGraw-Hill.

1. Explain and contrast job-based compensation structures including point-based job evaluation and market pay to determine employee compensation. Which model would you prefer in your job (past or current) and whybe specific about your last job and experience. Do you think you would always want to have your pay determined by one of these methods, or do you see trade-offs? Is there a "gold standard" or does the best approach depend on your organization's operations, industry, and pay strategy?

2. What can we learn from Expectancy Theory and Agency Theory when designing compensation systems? Make sure to describe each theory and its implications for compensation design. There are several compensation programs to incentivize high performance, some of which are individual or collective. If you had to choose a pay-for-performance program for your job, which would you pick and why? Be specific, linking the high-performance systems of choice to your job (past or current).