Asked by verenesha housen on Jun 21, 2024
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Wage flexibility and incentive plans are made easier when organizations have standardized wages tied to jobs and independent of a company's ability to pay.
Wage Flexibility
The ability of wages to adjust in response to changes in the economy, such as supply and demand for labor.
Incentive Plans
Reward systems designed to motivate employees by tying a portion of their earnings to their performance or achievement of targets.
Standardized Wages
A policy or practice aimed at ensuring employees performing similar tasks with similar experience levels are paid equally.
- Understand the role of wage flexibility and incentive plans in organizational productivity.
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Learning Objectives
- Understand the role of wage flexibility and incentive plans in organizational productivity.
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