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XYZ IncPursues a Low-Cost Strategy in Its Industry and Generally Needs

question 5

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XYZ Inc.pursues a low-cost strategy in its industry and generally needs lower skilled employees.As a result,their management team decided to establish a compensation policy that pays less than the marketplace.In recent years,the company became susceptible to labor shortages and high turnover.Which kind of pay level policy does XYZ Inc.follow?

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Definitions:

Protective Gear

Clothing or equipment designed to protect the wearer's body from injury or infection.

Inclusive Decision-making

A decision-making process that involves and respects the perspectives and contributions of all stakeholders.

Lose-lose Situation

A situation where all parties involved suffer a loss or negative outcome, often due to conflict or competition.

Bargaining Climate

The environment or conditions under which negotiation or bargaining occurs, including attitudes, relationships, and the surrounding context.

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