The new CEO of your company, who just came from a competitor, has just asked you to discuss the organization'92s compensation system. As the compensation manager, you tell him about the organization'92s nearly 500 employees in about 70 different job titles who are located in three locations in L.A. He asks you to describe the strategy used to guide compensation system decisions. You explain that ordinarily, pay models are guided by several strategic policies. Describe what goals a compensation system should have and how four strategic pay policies apply to the organization.