- 20 Marks
BMIS – L1 – E19 – HR – Other human resources functions
Define 'Compensation' in the context of employment.
Question
The strategy and structure of compensation programmes have important implications for businesses and their ability to create and sustain competitive advantage.
Required:
(a) What is meant by ‘Compensation’?
(b) State FOUR characteristics of an effective compensation system.
(c) Explain the following:
(i) Direct compensation
(ii) Indirect compensation.
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