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Degger [83]
3 years ago
8

________ is a broad comparative concept that refers to how an organization's monetary compensation incentives compare, in genera

l, to those of other organizations in the same industry employing similar kinds of workers.
Business
1 answer:
solmaris [256]3 years ago
6 0

Answer:

Bench-marking

Explanation:

Bench-marking is the process of comparing an organization's procedures and performances against the best practices in the industry.  A firm will compare its key indicators against those of similar companies.  Some of the indexes that firms compare are the quality of products, production costs, strategies, and employee salaries.  

A benchmark acts as a reference point or a base for standards.  An organization uses benchmarks to identify areas it needs improvements . The benchmarks report will point out if a company is overpaying or underpaying its employees.

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