Define pay policy. Which competitive pay policy would you recommend to an employer

business

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Define pay policy. Which competitive pay policy would you recommend to an employer? Why? Does it depend on circumstances faced by the employer? If so, which ones? Based on the reading in Chapter 7, there are consequences of pay level and pay mix decisions. Identify and briefly discuss each factor. What pay level does the efficiency wage predict? What pay level does the fairness wage predict? Does the theory accurately predict organization behavior? Why or why not

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