Define compensation and total compensation

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Reference no: EM1347368

Epxlain what is compensation? Explain. What is total compensation? How might one apply both the expectancy and the equity theory in the endeavor of developing a compensation system? Why is each important (or what are the repercussions if one or both are not considered)? What information would one need in order to develop an effective compensation system and how would you collect this needed information? Why?

Reference no: EM1347368

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