What is a characteristic of a flexible compensation plan?

A flexible compensation plan is designed to accommodate the varying preferences and needs of employees, making option B the most accurate description. This type of plan allows employees to choose or customize their compensation elements, such as health benefits, retirement contributions, and even types of bonuses. This adaptability helps organizations attract and retain talent by recognizing that employees have diverse motivations and requirements based on their personal circumstances.

In contrast, characteristics like being strictly tied to market rates or having a fixed pay structure imply a rigidity that does not align with the concept of flexibility. Similarly, a standard benefits package for all does not cater to the individual preferences of employees, thus illustrating a one-size-fits-all approach which is not representative of a flexible compensation framework.