Examlex
Most entrepreneurs are objective when they evaluate their new idea.
Labor Costs
The total sum of all wages, benefits, and taxes that a business must pay for its employees.
Existing Salaries
The current compensation rates for employees within an organization or industry.
Two-Tier Wage Plans
Compensation strategies that offer a higher pay scale for incumbent workers while new hires are brought in at a lower wage for the same job.
Equity Theory
A theory indicating that individuals assess their own value and treatment in relation to others to determine fairness.
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