At the annual meeting of the HR division at a financial services firm, the vice president of HR noted that pay compression was a problematic phenomenon for certain jobs for which there was high demand, but low supply. This problem was especially acute for jobs in data analytics and marketing. In addition, the VP of HR noted that the company needs to be careful about how much it spends in compensation next year, as profits were down last year. The vice president of HR has hired you as a compensation consultant to help them to formulate an action plan for dealing with this situation. What would you say in this situation about potential solutions to the problem? give a 20 percent pay increase to the highest 20 percent of workers give all employees a 10 percent across the board pay increase institute a 10 percent pay reduction for the bottom 20 percent of employees in terms of pay reward high performance and merit worthy employees with large pay increases