Question

In determining compensation strategy, a major strategic decision is whether to mirror competitors pay.

a. True
b. False

Answer 1

True

Step-by-step explanation:

Compensation is the amount that is paid to an employee for work done or services rendered. It is monetary and non monetary payment that is given to a worker.

For compensation to be attractive to employees, it needs to be comparable to compensation of other competitors in the industry.

This will reduce the rate at which employees move to other companies.

But when compensation nos lower in a company they stand the risk of losing their workers to other companies that offer better pay