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Compensation Plan is a term used to describe the process of determining the value of an employee's salary and benefits package. It is a key component of personnel and human resources management, as it helps to ensure that employees are fairly compensated for their work. The compensation plan market is composed of companies that specialize in developing and implementing compensation plans for businesses. These companies provide services such as job analysis, salary surveys, and benefit design. They also provide consulting services to help employers develop and implement compensation plans that are tailored to their specific needs. Companies in the compensation plan market include Mercer, Willis Towers Watson, Aon, and Gallagher. Show Less Read more
