Jay Patel is the HR manager at BNB Manufacturing. Jay wants to establish the pay$-$for$-$performance structure at BNB$.$ In these efforts, Jay$$s boss tells him to include the design of a merit matrix that ties employee annual pay increases to performance as well as the design of a short$-$term bonus matrix and a long$-$term bonus pay$-$for$-$performance strategy. Jay should focus on which of the following step in the framework to address these issues?

Group of answer choices

Identify any gaps that exist in the current processes.

Define the organization$$s pay philosophy.

Update compensation processes with new pay for$-$performance elements.

Review the financial impacts of creating pay$-$for$-$performance changes.

Communicate and train managers and employees on the pay for$-$performance philosophy and process changes.