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Geographic-Based Pay
A compensation strategy that adjusts an employee's pay based on the cost of living and market wage rates in the geographic location where they work.
Market Pricing
The process of determining the external value of jobs within an organization by comparing the organization's jobs to similar jobs in the external labor market.
Small Firms
Businesses or enterprises with a small number of employees, potentially offering more personalized services and having less market influence than larger companies.
Performance Pay
A compensation strategy that ties employee payment directly to their performance outcomes or achievements.
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