Examlex
Perform the indicated operations and simplify.
Compensation Rates
The amount of pay or benefits that an employee receives from their employer for their work.
Internal Equity
The practice of ensuring that employees are compensated fairly in relation to one another within the same organization.
External Equity
The fairness of an employee's compensation as compared to what others in the external job market are receiving for similar work.
Job-Based Pay
A compensation strategy that determines an employee's salary based primarily on the specific job or position they hold.
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