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Compensation, Benefits, Stakeholders for Businesses

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.

1. List and explain the differences between discretionary
and legally required (mandated) benefits. Why do companies need to provide both
to employees?

2. List and explain the five different stakeholders of a
company’s compensation system.

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.

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