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3 cards from this section. Quick, good the night before a test.
What does internal equity refer to?
Think about how compensations should compare within a department.
Why is external competitiveness important?
Consider how much competitors are offering.
What is the principle of internal equity?
Consider what equity means in a team environment.
True or False: External competitiveness means paying employees the minimum wage.
Think about how businesses attract talent.
Imagine you are designing a compensation package for a new start-up. Describe how you would ensure each of the five principles is met in your strategy.
Consider real-world examples of how companies implement these principles.
Analyze a case study of a company that failed due to poor compensation design. What were the specific failures related to the five principles?
Reflect on how these failings affected employee morale and company reputation.
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