From the role as a compensation analyst, your boss task you with providing support to human resources representatives to provide new employees and applicants a PowerPoint presentation with bullets and talking points about compensation strategies companies use to attract and retain talent. The PowerPoint presentation is restricted to 7 or fewer lines per slide, 7 or fewer words per line. Each slide should contain expanded detailed talking points in the notes section. Utilize the provided information as a framework, but do not confine yourself to it: What is a compensation strategy? A compensation strategy is how your organization approaches pay and benefits. This includes setting salary ranges, determining how raises and bonuses are calculated, and identifying which benefits you want to offer to your staff. An effective compensation strategy should reflect your organization's needs, the culture you want to create, and trends in the external market. Why is a compensation strategy important? Your compensation plan can be the difference between job candidates applying to work for your organization or your competitors.