TASK: All references and citations used must be in APA , when directly quoted or paraphrased works of others is used in any manner, the writer is obligated to properly cite the source of the original narrative.
Your response should be at least 200 words in length.
Problem 1. List and explain the differences between discretionary and legally required (mandated) benefits. Why do companies need to provide both to employees?
Problem 2. List and explain the five different stakeholders of a company's compensation system.
Problem 3. Why is strategic compensation important for the long-term success of a company? Provide detailed steps that company should take to create a long-term strategic compensation plan.
Course Textbook:
Martocchio, J.J. (2013). Strategic compensation: A human resource management approach (7th ed.). Upper Saddle River, NJ: Prentice Hall.