QUESTION FOUR $[25]$

Critically discuss the objectives of compensation management, and evaluate how these objectives contribute to achieving organizational goals. In your response, explore the key elements of compensation management, such as internal equity, external competitiveness, and individual performance, and assess their impact on employee motivation, retention, and productivity. Additionally, analyse the challenges faced by organizations in aligning compensation strategies with business objectives, using relevant examples to support your argument. How can compensation management be strategically leveraged to enhance both employee satisfaction and organizational performance.