Examlex
Apply the functionalist perspective on race and ethnic relations.
Pay Grade
A defined level within an organization's pay structure that determines the amount of compensation an employee receives.
Matching the Market
A compensation strategy where an organization ensures its pay levels for employees are competitive with those offered by other employers in the same industry.
Market Average
A measure or calculation that reflects the typical price or performance of selected stocks, goods, or services in a market.
Broadbanding
A pay structure that consolidates a large number of pay grades into fewer, wider bands, allowing for more flexibility in employee movement and pay adjustments.
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