Compensation and Benefits

1. Pay systems are designed to meet four basic objectives: Efficiency, fairness, compliance, and ethics. Rank them by importance (1-4), and defend your position.
2. A pay model has four basic policies: Internal alignment, competitiveness, contributions, and management. Why is internal alignment an important policy in a strategic perspective of compensation?
3. Assess the value of the following theories: Equity Theory, Tournament Theory, and Institutional Theory.