Compensation Plan Purpose: The purpose of this assignment is for you to practice creating a total compensation plan for your employees. The approximate length should be about 1 page. Grading: Grading is based on the quality of the submission. A high-quality submission is one in which you provide a thoughtful and comprehensive compensation plan and include the main points listed below. Instructions: In the class, we primarily discussed the compensation plans implemented by large-scale corporations. For this assignment, I want you to connect what we learned to a small business context. Assume you are a general manager of a small hospitality business opening next year (hotel, restaurant, golf course, event planning company, etc.--your pick). Your executive team has tasked you with determining the compensation package for the employees, including wages/salary, incentives, and benefits (i.e., health insurance, perks, etc). Remember, a small business may not have a high budget for labor expenses, so the cost-effectiveness of the compensation plan is a key consideration. Create a compensation plan that includes the following information: What steps do you need to take to ensure you comply with federal, state, and local laws regarding compensation? How will you determine a competitive wage/salary to offer your