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Which of the following is NOT a common goal of a strategic compensation policy?

Rewarding an employee's past performance is NOT a goal of strategic compensation policy.

Which one of the following is not an internal factor in the compensation plan or strategy?

Question 1:Answer(d) demand for product/service. Internal factors include industrial relations policy of the organization, working environment, prevailing management style, living conditions, organizational culture, trade unions, wages and salary administration, and HR management policies.

Which of the following is not an external factor when determining compensation?

Manufacturing is NOT an external factor since manufacturing is referred as an internal factor as it belongs within the complete control of the organization.

Which of the following is an example of nonfinancial compensation?

Offering bonuses for effective performance. Providing free meals to staff for a particular effort. Verbalizing appreciation to employees for their hard work. Celebrating achievements and milestones in a monthly company newsletter.