Asked by Brianna Prater on May 12, 2024
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Why would a company pay less than the market rate?
A) It has excellent benefits.
B) It is located in a highly-desirable part of the country, to which people are anxious to move.
C) It provides good job security.
D) The content of its job are very satisfying.
E) All of these are reasons to pay less than the market rate.
Market Rate
The average or standard cost for goods or services in a specific market, often used as a benchmark for setting prices or wages.
Excellent Benefits
Refers to superior or highly favorable employment benefits, such as health insurance, retirement plans, and paid leave, offered to employees.
Highly-Desirable
Attributes or qualities that are very attractive or sought-after, often used in the context of job competencies, living conditions, or product features.
- Discern the impact of market and organizational factors on the architecture and strategy of compensation.
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Learning Objectives
- Discern the impact of market and organizational factors on the architecture and strategy of compensation.
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