What should be your first step when you formulate the compensation strategy?
A) Define the required behaviour.
B) Determine the compensation mix.
C) Evaluate the proposed strategy.
D) Determine the compensation level.

Question

Quizplus · Accepted Answer

The first step in formulating a compensation strategy should be to define the required behaviour. This involves identifying the key goals and objectives of the organization, and determining what behaviours and actions are needed from employees in order to achieve them. Once this has been established, the compensation strategy can be developed, taking into account factors such as the compensation mix and level, as well as the evaluation of the proposed strategy.

What Should Be Your First Step When You Formulate the Compensation