Factors that must be taken into account when building compensation systems include the labor market,labor unions,interindustry wage differentials,the economy,and legislation.

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HR professionals do not build the compensation system in a vacuum.There are many contextual influences that must be taken into account.Among the most prominent considerations are the labor market,labor unions,the economy,interindustry wage differentials,and legislation.

Factors That Must Be Taken into Account When Building Compensation