Case Study: Compensation Issues at TechNova SolutionsTechNova Solutions, a mid$-$sized technology company, has recently faced several challenges related to its compensation practices. Despite being a leader in innovation and growth, the company has encountered issues with employee dissatisfaction due to perceived inequities in its compensation system. Specifically, employees in various departments have raised concerns about discrepancies in salary levels, lack of transparency in compensation decisions, and insufficient performance$-$based rewards. These issues have led to high turnover rates, decreased employee morale, and challenges in attracting top talent.The company's HR department has been tasked with addressing these compensation issues. They must develop strategies to create a fair, transparent, and motivating compensation system that aligns with industry standards and supports the company's goals.Discuss FIVE $(5)$ ways that the HR department at TechNova Solutions can address the compensation issues described in the case study. Provide detailed explanations for each suggested approach.