Assume you work for Godman Sachs bank. Conduct an interview that responds to the following questions:
1. What is the process of compensation?
2- How do you create an effective compensation system? 3- What are the steps in formulating the compensation strategy? 4- Should employee feedback be taken into account in the process of forming a strategic compensation plan? 5- What are the effective organizational mechanisms for ensuring and verifying the fairness of the compensation system regarding all staff members, regardless of their background? 6- Is an effective compensation program aimed at retaining current employees, attracting new talent, or achieving these two goals simultaneously? 7- Can the design of a compensation program be a competitive advantage for a banking company? If so, how? 8- How to design an effective compensation structure to mainstream time-consuming management of compensation processes? 9- How to properly balance high-performance rewards and low-performance penalties to avoid extremes within the compensation program?
Each question should be at least 40 words.
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