What is Fair Compensation?

For this discussion, I would like us to consider this issue. How should we define "fair" compensation? What tests/procedures would you recommend to an organization to determine whether the ways in which they compensate employees is "fair"? Why? Be sure to support your analysis with appropriate material from the text and outside web sites.

Reference: Dessler, G. (2013). Human Resource Management (13th ed). Upper Saddle River, NJ: Prentice Hall Inc.