Question

The pay rates in the organization may not match the pay structure in the market when a company sets its pay rates based strictly on _____.

Answer 1

There are discrepancies between the pay rates of a company and the pay structure in the market when a company sets its pay rates strictly based on a pay policy line.

What is a pay rate?

A pay rate can be defined as a measure of the amount of money that is being paid by a company to its employees (workers) per period of work or unit of production, which is usually on a hourly, weekly, or monthly basis.

In business management, discrepancies would generally exist between the pay rates of a company and the pay structure in the market when a company sets its pay rates strictly based on a pay policy line.

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