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How should we define fair compensation

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Question: How should we define "fair" compensation? What tests/procedures would you recommend to an organization to determine whether the ways in which they compensate employees is "fair"? Why?

Much has been written about "fair" compensation. However, there is not a consensus on what is "fair" -- how it's defined and how it should be determined. For this discussion, I would like us to consider this issue. How should we define "fair" compensation? What tests/procedures would you recommend to an organization to determine whether the ways in which they compensate employees is "fair"? Why?

Reference no: EM131272917

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