After determining whether one is hiring someone for an hourly or salaried position,one of the first steps in developing a compensation plan is to determine the organization's salary philosophy.

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This statement is true. Before developing a compensation plan, it is important to determine the organization's salary philosophy, which includes factors such as competitive positioning, internal equity, and performance-based pay. This will help ensure that the compensation plan aligns with the organization's goals and values.

After Determining Whether One Is Hiring Someone for an Hourly