An important component of compensation strategy is the organization’s compensation philosophy. Define what is meant by a “compensation philosophy” and discuss the principle components and

An important component of compensation strategy is the organization’s compensation philosophy. Define what is meant by a “compensation philosophy” and discuss the principle components and limitations of a compensation philosophy, and answer the following two questions using the question and answer (Q&A) format. The Q&A format should include the original question along with your response. Within your post, support your responses with information from at least one peer-reviewed/scholarly source (not older than 3-5 years) from the CSU Global online library or the internet, and provide the full citation at the end of your post. Use APA guidelines to format your references. Your initial posting should be well-researched, contain at least 300 words, and Your initial post must meet and include at least scholarly reference from course materials.

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