Talk about the compensation philosophies and approaches which have been used at anyone group the place you have got labored (no want to call the group, although it is best to focus on the character of the services or products offered).Reply the next questions associated to that system:Have been they market primarily based, or inside fairness primarily based?Have been they competency-based that can assist you develop and develop? Based mostly on using some formal job analysis system?Was there a group efficiency element included?How have been base salaries usually set?Was it a efficiency primarily based system? Based mostly on seniority? Based mostly on throughout the board will increase for everybody? Based mostly on cost-of-living will increase solely? Based mostly on lump-sum approaches or a bonus?Did it embrace a variable pay element (incentive system)? A chunk charge system? A revenue sharing a inventory possession element?Have been supervisor rankings used or peer and/or self-appraisals? Have been 360-degree approaches used? Or was the system primarily based on a mixture of a few of these components?How have been executives paid? Have been their whole packages primarily based on salaries, bonuses, long-term performance-based incentives, or different advantages and perks resembling a âGolden Parachuteâ)?Lastly, what have been the implications of those philosophies and approaches? Do you suppose they helped the group full its strategic aims or not? Have been they per Saint Leoâs Core Values?Your preliminary response shouldn’t consist solely of opinion statements, however be supported by factual data. As references, you could use your textbook or different articles and assets. Keep in mind to make use of APA format for in-text reference citations.In your responses to classmates, you could focus on what you realized from their posts, what shocked you about their posts, and/or how their posts relate to issues that you’ve examine or skilled in your personal life.