You are the compensation director for the New York Fruit Pies Company, which has 100 employees and is located in a small city of 50,000 in a rural agricultural part of New York State. You have just joined the company and have identified the need to create a revised compensation system.
You are familiar with the four strategic pay policies that are typically found in pay models. Discuss each of the strategic policies as they would apply to your company. Are there any goals that your compensation system should incorporate?