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12
Chapter Outline
Designing the appropriate compensation package for the owners and employees of a business is a critical step in the business planning process. In small closely held businesses, the business owner�s needs will often dictate both the size and form of compensation provided to the employees. In addition, nonowner key employees of closely held businesses must be compensated appropriately or the businesses could lose their services to competitors. Finally, larger publicly held corporations must compete for the services of valued executives, and employee benefit packages represent a significant portion of the total compensation expense.
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